Major Losses For Holland Casino
Published May 10, 2021 by Sol FH
After the release of its 2020 annual report, Holland Casino was down 53.8% compared to 2019, at €333.0m.
It has been a very tough period for big brick and mortar gambling companies and Holland Casino is one of the biggest. There are a total of 14 venues that are owned and operated by Holland Casino and they were open for a mere 71 days during the year without restrictions stemming from COVID-19. The numbers speak for themselves and they were down 60.0% year-on-year to 2.5m guests.
Surprisingly, the average spend per visitor jumped by 13.7%, up from €117 in 2019 to €133, and the casino thanked a more diverse crowd of people.
Which Games Earned Most?
Slots were the biggest spend by players at Holland Casino's facilities at €185.9m. Classic table games brought in €124.7m, service tips made €10.7m, food and beverage €10.3m, and other benefits rounded out the €333.0m.
The effects of the closures and regulations also impacted gambling taxes collected by the local government, which declined by 53.8% to €94.5m, albeit the operator was able to defer €74.9m.
Less activity means less operating expenses, which were down from €442.5m in 2019 to €318.0m. Holland Casino lost before corporation tax benefit of €80.7m. in 2019, the company made a net profit tax of €86.9m in 2019.
Holland Casino is not a pushover and is in no danger of closing its doors, as it is invested in its future.
“Despite the constantly changing circumstances and major challenges that this crisis year caused, I firmly believe that we will get through it well,” commented Erwin van Lambaart, the CEO of Holland Casino.
“This is due to the resilience of our people, general government support measures, focus on cost control, and a clear strategic investment vision for the future. Together, this has meant that we were always able to anticipate the consequences of this crisis.”
Slow Reopening
The Holland Casino venues are slowly planning to open up and it had announced that new regulations would be in part for a soft open, as part of its pilot program.
The test phase took place over the 24-25 of April, wherein they were allowed to open 6 of its venues across the Netherlands.
New regulations and restrictions will make it more difficult to go to the casino, as all visitors must now have a negative COVID-19 test and make a reservation before coming.
