Switzerland probes travel firms, casinos over search keyword bidding pacts

The Swiss Competition Commission opened two investigations into whether travel firms and online casinos struck quiet deals not to bid against each other on search keywords, a practice that can keep rivals out of sight when consumers are ready to compare prices. In plain terms, if companies agree to stay off one another’s trademarked terms in Google, Bing and other search auctions, the result can be less competition, less visibility and higher costs for shoppers and players.

ComCo said one case centered on three companies offering package holidays in Switzerland. The second covered nearly all online casinos operating in the country. The watchdog said the alleged conduct could make it harder for consumers to compare providers, because search advertising is often the first place people see competing offers side by side. The agency launched both cases after companies themselves brought the issue to its attention, a sign the review may turn on compliance concerns inside the industry as much as on outside complaints.

Google and Microsoft were not accused of wrongdoing, but both search platforms are likely to be questioned as ComCo examines how the keyword auctions worked and whether rival firms coordinated around trademarked search terms. That kind of bidding is a core part of online advertising for travel and gambling businesses, where winning placement beside a search result can determine which company captures a customer at the moment of intent.

The probe also fits a broader European pattern. Competition authorities across Europe have repeatedly scrutinized restrictions on bidding for trademarked keywords in search advertising, and the European Commission’s Google Shopping case showed how seriously regulators can treat search-market conduct when they believe competition has been distorted. The EU Court of Justice upheld that finding in 2024, reinforcing the view that digital search markets are not beyond antitrust reach.

ComCo said its investigations could take one to two years, leaving the firms involved in a long period of uncertainty before any findings are reached. If the agency concludes that rivals coordinated to avoid bidding on each other’s terms, the case could shape how Swiss travel companies and casinos use trademarked keywords in digital marketing for years to come.