Key Moments:
- Holland Casino reported a €14.2m profit in the first half of the year, shifting from a €3.5m loss in H1 2024
- A €6.6m gain was realized from selling property previously used in Groningen and Zandvoort
- The company highlighted its ongoing vulnerability, especially with a scheduled gaming tax increase to 37.8 per cent next year
Mixed Financial Results in H1
Holland Casino recorded a profit of €14.2m for the first six months of the year, reversing a loss of €3.5m from H1 2024. This improvement came alongside proceeds of €6.6m from the divestment of land at its former Groningen and Zandvoort sites.
Impact of Tax Changes
The current Dutch gaming tax rate of 34.2 per cent led to an extra €13.5m in costs over the first half. With a tax rate set to increase to 37.8 per cent next year, Holland Casino’s chief financial officer, Ruud Bergervoet, explained that profits would be much slimmer going forward. If the higher 2026 tax rate had already been in effect, profits with the land sales would have totaled €1.1m, but without those proceeds, the company would have registered a loss of €5.5m instead.
“This shows how vulnerable we are, despite all our efforts so far,” he said.
Operational Highlights and Pressure Points
The company experienced a slight dip in total turnover to €390.9m, yet saw both increased in-person visits and higher average spend by guests at physical locations. Nonetheless, the company remains under considerable financial pressure. Bergervoet acknowledged ongoing demands on staff and the importance of customer loyalty, while noting that the upcoming gaming tax hike in 2026 adds additional uncertainty.
“We’ve asked a lot of our employees, but the results are certainly worth it. I’m especially proud that our guests continue to visit and appreciate us.
“But we can’t count ourselves lucky. The financial pressure remains high, especially considering the planned second increase in gaming tax in 2026.”
Online Revenue Declines
Holland Casino reported that revenue from its online division decreased, pointing to new player protection rules introduced in October 2024 as the main reason for the decline.
Financial Overview Table
Metric | H1 Value |
---|---|
Profit | €14.2m |
Previous Period Loss (H1 2024) | €3.5m |
Land Sale Proceeds | €6.6m |
Total Turnover | €390.9m |
Additional Tax Cost (34.2%) | €13.5m |
- Author
Daniel Williams
