Economics and statistics

The gambling sector of San Marino is compact and built on a concession model.

The main cash flows are concession and license payments, tax on gambling activities and corporate taxes of the operator.

Demand is formed by visitors (primarily from Italy) and tourists: due to this, casino revenue is supplemented by non-Gaming revenues (hotels, restaurants, events).

Incomes are moderately volatile and depend on the tourist season; the "gray" segment is small due to strict supervision.

Operator costs are markedly biased into compliance (KYC/AML, security, reporting), which reduces margins, but maintains sustainability and trust.

The effect on the economy is limited in absolute magnitude, but with a tangible multiplier of employment and services.