Tough times have arrived for Holland Casino, which revealed that it suffered a loss of €3.5m ($3.9m) in the first half of 2024. That’s a sharp decrease from last year, when the company posted a profit of €17.2m ($19.2m) in the same period. The company partially blames the losses on the 1% increase in gambling tax since the start of 2024, saying the tax has cost Holland Casino a total of €3.7m ($4.1m) so far this year.
Unlike supermarkets, we cannot pass on price increases properly.”
CEO Petra de Ruiter criticized the tax increase, saying: “Our total tax burden will then be almost 50%. This means that black figures are not possible. We will then make a significant loss. Unlike supermarkets, we cannot pass on price increases properly. The only alternative is then that we take very undesirable measures such as aggressive campaigns to recruit new guests, encouraging people to spend much more or by significantly reducing the prize money. These measures are unacceptable for Holland Casino and irresponsible from the perspective of government policy on gambling. Moreover, the planned investments in our prevention policy will also come under pressure.”
CFO Ruud Bergervoet cited other contributing factors to the casino’s losses, such as high inflation, the increase in the collective labor agreement, and lingering costs of COVID-related debts. Bergervoet said: “This makes our financial position vulnerable. It is crucial for our financial health that no further significant cost increases occur now. Only then can we prevent ourselves from ending up in a loss-making situation.”