In the first half of 2025, Holland Casino reported a notable profit of EUR 14.2 million, approximately $16.6 million. This marked a significant turnaround from a loss recorded in the same period the previous year. The return to profit was primarily achieved through cost-cutting measures, strategic restructuring, and the strategic sale of two properties, rather than a surge in gambling revenue.
During this period, Holland Casino saw a slight dip in revenue to EUR 390.9 million, about $456.4 million, compared to EUR 395.4 million, or $461.6 million, in the first half of 2024. The decline in overall revenue was somewhat mitigated by a marginal improvement in the performance of their land-based casinos. The brick-and-mortar segment benefited from increased visitor numbers and higher average spending per customer. The first six months of 2025 saw 2.58 million visitors, a slight increase from 2.56 million during the same timeframe last year.
The digital segment, however, continued to face challenges. Holland Casino Online, which has historically struggled, didn’t perform as expected. Although exact figures for H1 2025 were not disclosed, last year’s online revenue was EUR 48.9 million ($57.1 million), representing a 15% decrease from 2023. Company executives acknowledged the ongoing decline, attributing it to stricter regulatory measures that have “significantly impacted” digital operations.
The sale of the casinos in Groningen and Zandvoort provided a financial boost, bringing in EUR 11.4 million ($13.3 million) and enhancing profit by EUR 6.6 million ($7.71 million). Additionally, significant restructuring at the head office led to a reduction of EUR 30 million ($35 million) in operating expenses. To further stabilize finances, Holland Casino benefited from relief measures on their pandemic-related debt, which included a temporary payment freeze and an extended repayment schedule.
Despite these financial improvements, the company’s leadership remains cautious. CFO Ruud Bergervoet praised the team for their successful cost-saving initiatives and maintaining service levels. However, he also highlighted persisting financial pressures, particularly in light of the Dutch government’s planned increases in gambling taxes. The gambling tax rate was already adjusted from 30.5% to 34.2% in January 2025 and is expected to rise to 37.8% in 2026.
Bergervoet emphasized that under the upcoming higher tax rate, the profit margin would have been significantly lower—around EUR 1.1 million ($1.28 million)—and without the benefit of the property sales, the company would have faced a EUR 5.5 million ($6.42 million) loss. His comments underscored the thin margins the company operates within, despite achieving visible cost savings. To further streamline operations, Holland Casino is experimenting with operational changes such as altered roulette odds and an increased focus on digital solutions to cut costs.
These economic conditions illustrate the complex position Holland Casino finds itself in, needing to navigate financial sustainability while fulfilling its mandate to provide safe and legal gambling options. Despite the challenges to profitability, both industry insiders and policymakers view Holland Casino as a crucial line of defense against illegal gambling operations, underscoring the necessity of its continued operation in the Netherlands.
In contrast, some industry experts argue that the focus should not solely be on government policy and taxation as the root causes of financial strain. Instead, they suggest that evolving consumer preferences and technological advancements play a significant role. The rise of international online gambling platforms that offer more diverse options and better user experiences could be impacting Holland Casino’s digital segment. These platforms often operate with fewer regulatory constraints, offering attractive odds and bonuses that can lure customers away.
Furthermore, as digital gaming technology advances, consumers increasingly expect innovative gaming experiences that traditional platforms might struggle to deliver. This shift in expectations requires established operators to invest heavily in technology, user experience design, and marketing to compete effectively.
While Holland Casino’s strategic moves have brought some financial relief, the underlying challenges of adapting to a rapidly evolving market remain. Balancing the need for innovation with financial prudence will be crucial for Holland Casino’s long-term sustainability. As the company navigates these challenges, stakeholders will closely watch how effectively it can maintain its role as a key player in the Dutch gambling industry while adapting to new market realities.
The coming months will be pivotal as the company continues to implement changes designed to enhance efficiency and customer satisfaction. With the looming tax increases, the necessity to innovate and adapt has never been more pressing. Holland Casino’s ability to manage these dual pressures will likely define its financial and operational trajectory in the coming years.
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