Holland Casino confident of future prospects despite first half struggles

Finance News

Despite limited turnover and significant tax debt, Holland Casino is still in good shape, thanks to government support measures and investments in new branches, and Holland Casino Online.

Gross income decreased by 8.65 percent in 2021 compared to 2020. The result before corporate tax is a loss of 64.3 million euros, a 20.3 percent less loss compared to 2020. The result after tax is a loss of 45. 7 million euros (2020: loss of 58.8 million euros).

The entry into force of the Remote Gambling Act on 1 April 2021 gives Holland Casino the opportunity to offer online games of chance in a responsible, fair and safe manner, in addition to its branches in the country. Holland Casino Online went live on October 4, 2021. 

The first results are good. The ‘startup’ will make an immediate contribution to the result in 2021. The turnover was 40.4 million euros. By way of comparison: according to the annual report of the Gaming Authority, the total online turnover of licensed providers was 185 million euros.

The decreases compared to 2020 have to do with the fact that at the beginning of that year the branches were open for 2.5 months without restrictions and with above-average turnover. In 2019 there were still 6.2 million visits. The average spending per visit rose to 154 euros in 2021 (+15.8 percent compared to 2020).

Ruud Bergervoet, Chief Financial Officer: “Despite the negative figures, we are basically in good financial shape. This is partly due to Holland Casino’s agility and government support to maintain a large proportion of employment. 

Moreover, in 2020 it became clear that we had to work faster on a future-proof Holland Casino. That is why we started the Horizon restructuring project, in which, in addition to cost savings, we also looked at more efficient and effective management of the entire organization. The investments in the two new locations in Utrecht and Venlo are also bearing fruit. We have also invested in our renovated restaurants. Since March 23 of this year, there are no longer any restrictions on visits to Holland Casino. We notice this immediately in our figures.