When everything stops: how Casinò Lugano came through the 2020 closure
There is a place in Lugano where the evening doesn’t end when the shop windows in the town centre go dark. Casinò Lugano is [how long it has existed / licence – facts from the interview, e.g.: one of Switzerland’s historic casinos], overlooking the city and as much a part of its landscape as the lakeside promenade reflected in its windows.
Behind the lights of the gaming rooms, however, there is a real company. [n.] employees who every evening keep a precision mechanism running: croupiers and floor staff, security, catering, technical staff, administration. Very different trades working side by side under the same roof, in one of the most heavily regulated sectors in the country.
The challenges of everyday life
A casino is a business that lives by keeping its doors open. Every evening it welcomes hundreds of guests – and that means responsibility towards the public, handling valuables and cash, and security systems that can never stop. It also means a large workforce, with the pension provision and protection of dozens of families who depend on that work.
But the most particular risk in this line of business is something else: here, a day of closure can never be made up. There is no stockroom to clear later, no delivery to postpone. When the gaming rooms are empty, that evening’s revenue is lost – while fixed costs keep running.
For years this remained a scenario on paper. Then came the moment when the scenario became reality, for everyone, on the same day.
How we tackled them together
The partnership between Casinò Lugano and Assidu began in [year]. The first step was an analysis of the specific risks of the business: what could bring a casino to a halt, what could hit it, what each scenario would cost. From there, an insurance programme was built and put out to tender among several insurers, to obtain the best terms on each cover.
Among these was a policy for [exact nature of the cover that responded during the closure], designed for a scenario that at the time seemed purely theoretical: being unable to operate for reasons beyond the company’s control.
The moment that made the difference
[Mid-March 2020]: the Confederation orders the closure of non-essential businesses. The Casino’s gaming rooms empty in a single evening. Nobody knows for how long.
For a business that lives by keeping its doors open, this is the worst-case scenario: zero revenue, fixed costs that keep running. It is at that moment that the cover put in place years earlier stops being just a line in a contract.
Assidu takes charge of the claim: [what was actually done – REAL DATA FROM THE SPECIALIST: documentation of losses, dealings with the insurer, handling times]. [Result: compensation/outcome – ONLY if the Casino has authorised this level of detail; otherwise, qualitative wording: “the cover responded, and helped carry the company through to reopening.”]
When we had to close, we didn’t know how long it would last. Knowing that the cover was there – and that someone was already dealing with it for us – lifted an enormous weight off our shoulders at a time when we already had far too many.
Yuliya Castelli, Head of Finance and Compliance, Casinò Lugano
Assidu in three words: Expertise, reliability, vision
The Assidu services provided
- [Business interruption] – to cover costs when the business is brought to a halt by external causes.
- [Business insurance / liability] – for a venue that welcomes hundreds of guests every evening.
- [Staff pension provision (BVG/LPP)] – for the team that keeps the gaming rooms running.
- [Claims management] – support at the moment when the cover has to respond.
Does your business also live by keeping its doors open? An analysis of your business interruption cover will tell you whether your company could withstand a sudden stop – and what it needs to do so.
Article written by:
Deputy Head of Communication & Marketing CH, MSc in Business Administration HSLU