Swiss Casinos: Hans-Ulrich Rihs Transfers Majority Stake to Charitable Foundation

The Swiss gambling market is witnessing a fundamental transformation in its ownership structure. Hans-Ulrich Jöggi Rihs, the long-standing majority owner of Swiss Casinos Holding, has decided on a drastic step. He is transferring a large part of his power to a foundation. In doing so, the entrepreneur is responding to the need to create generational stability for one of the country's most important casino groups. This decision comes at a time when the regulatory and economic environment in Switzerland is becoming increasingly complex.

The group, which operates prestigious locations in Zurich, Pfäffikon, St. Gallen, and Winterthur, is now under the leadership of the non-profit Jöggi Rihs Foundation, based in Bern. Rihs previously held a massive 96.45 percent stake in Swiss Casinos. The remaining 3.55 percent is distributed among minority shareholders, including current and former members of the Board of Directors and group management. By donating two-thirds of the shares, the foundation becomes the new powerhouse in the background, which is intended to cement the company's independence.

Numbers and facts

The economic situation in which this change is taking place is characterized by mixed signals. In 2025, Swiss Casinos managed to increase gross turnover slightly by 0.4 percent to 207.1 million francs, but a look at profitability clouds the picture. Operating profit slumped by a third to 15.7 million francs. The main cause is cited as massively rising operating costs, which more than ate up the slight increase in turnover. This reflects a general trend: the Swiss Federal Casino Commission (ESBK) reported a nationwide decline in Gross Gaming Revenue (GGR) of 2.1 percent to a total of 878.5 million francs for the year 2025.

The distribution within the market is interesting. While land-based business in Switzerland shrank by 3.9 percent to 564.9 million francs, online activities recorded a slight plus of 1.2 percent to 313.6 million francs. Swiss Casinos is prominently represented here with the Swisscasinos.ch platform. The fact that Rihs is now setting the course also has a social component. The Jöggi Rihs Foundation is dedicated to supporting people with hearing or visual impairments as well as the terminally ill. Funding is provided for training, infrastructure, and care services.

Background

Hans-Ulrich Rihs is no stranger to Switzerland. Together with his late brother Andy Rihs, he shaped the business world, particularly through the development of the Phonak hearing aid group, which now operates as Sonova. His influence is also felt in sports, as he continues to hold the majority of shares in the Bernese football club BSC Young Boys. The realignment of the casino group through a foundation solution is intended to prevent the company from falling victim to short-term profit interests or takeover battles.

"This allows the group to continue building on an independent and long-term oriented ownership structure in the future." - Spokesperson for Swiss Casinos Holding

This step is also a reaction to the new concession cycle that began in 2025 and lasts until 2044. In an environment where casinos like St. Moritz or Schaffhausen had to cease operations, Rihs is focusing on continuity.

Why it matters for German players

For players residing in Germany, this restructuring in Switzerland has no direct impact on daily gaming practice, but it serves as a reminder of market stability. In Germany, the State Treaty on Gambling 2021 (GlüStV 2021) applies, which provides a completely different regulatory framework. While Swiss providers like Swisscasinos.ch are strictly regulated locally, German customers may only play with providers that are on the so-called whitelist of the Joint Gambling Authority of the Federal States (GGL). In Germany, strict protective measures apply that are handled differently in Switzerland. This includes the cross-provider deposit limit of 1,000 euros per month and the stake limit of a maximum of 1 euro per game round for online slots. Monitoring in this country is carried out via the LUGAS system, which prevents multiple registrations and limit violations. A Swiss provider without a German license is off-limits for players from Germany.

What it means for GGL-licensed casinos

German GGL-licensed operators are watching such developments closely. The foundation structure at Swiss Casinos shows that long-term planning security is a valuable asset in the gambling sector. German providers are currently struggling with a strong black market, which the ESBK also described as a "strong surge" in Switzerland in 2025. In Switzerland, 580 domains were blocked. For German legal providers, this means that regulatory stability and the consistent fight against illegal competition are vital for survival. Those who operate legally in Germany must bear enormous costs for compliance and player protection, similar to how Swiss Casinos is suffering from rising costs. A stable owner in the background who does not just look at quarterly figures could also be a model for sustainable business in the gambling sector for German companies.