Oranges Are Not The Only Fruit, Holland Casino Back With a Bang and Boom
Thanks to the double-header of the end of Covid-19 lockdowns and the liberalisation of the Dutch online gaming space, state-owned Holland Casino is back with a bang. Call it Orange Boom, if you will.
While the company, which operates 14 casinos in The Netherlands, still has legal monopoly on traditional retail gambling, increasingly its new Holland Casino Online division is boosting its depleted coffers – and helping to pay-off hefty tax debts.
Nearly a quarter of total group income during H1, ending June 30, some €82.8 million (£70.74m), was generated by iGaming action.
And, overall, the described “mass” return of punters to its real-world casinos, following the end of pandemic closures, boosted total company revenue during the half to €353.4 million (£301.93) – 14 per cent more than in the whole of Covid-hammered 2020.
With EBITDA of €40 million (£34.17m) and a profit before tax of €8.2 million (£7m), Holland Casino was confident enough to pay off €51.7 million (£44.17m) of its tax debt of €314.4 million (£268.6m), amassed during the pandemic.
Although the state entity is no longer the only online gambling provider in the nation, following the full launch of the KOA regulated iGaming Act, there’s been more than enough oranges to pick off the betting Oranjeboom.
“The online market is larger than we thought,” noted Rene Jensen, Chair, of the Dutch Gaming Authority (KSA).
“We also see that our online guests continue to appreciate our offer despite the increasing competition,” observed Noël Leise, Holland Casino’s Director of Operations, continuing:
“Fortunately, our loyal guests have found Holland Casino again en masse.”
Committed employees—recent beneficiaries of wage guarantees and a one-off bonus—“are doing everything they can to ensure that [customers] have a great time at Holland Casino,” added Leise.