Holland Casino has released its financial report for 2021, highlighting that gross revenue fell by 8.65% in 2021, compared to 2020. However, the company says it is in good shape, thanks to government support measures and investments in new casinos, restaurants and Holland Casino Online.
The company also stresses that the entry into force of the Remote Gaming Act gives Holland Casino the opportunity to offer online gaming in a responsible, fair and secure manner, in addition to gaming in its casinos across the country.
We must remember that Holland Casino Online went live on 4 October 2021. The initial results are good. The 'start-up' made an immediate contribution to our results in 2021. Revenue came in at €40.4 million. For the purposes of comparison: according to the annual report of the Dutch Gaming Commission, the total online revenue of licensed providers was €185 million in the same period.
Other aspects highlighted by Holland Casino in their report are:
- Lower gross revenue: €304.2 million (was €333 million in 2020).
- Loss (before corporate income tax) of €64.3 million (was €80.7 million in 2020).
- Holland Casino Online revenue €40.4 million.
- Higher tax debt: €281.9 million (was €144.6 million in 2020).
- Fewer visits: 1.7 million (-31.7% vs. 2020).
- Casinos closed for 168 days due to Covid-19 measures: open for 197 days with restrictions.
The lower figures compared with 2020 are because in early 2020 casinos were open for 2.5 months without restrictions and recorded above-average revenues. In 2019, Holland Casino still welcomed some 6.2 million visits. The average spend per visit increased to €154 in 2021 (+15.8 percent compared with 2020).
Commenting on these results, Ruud Bergervoet, Chief Financial Officer: "Despite the negative figures, we are in good financial shape at the core. This is due in part to the agility of Holland Casino and the support of the government, which allowed us to retain a large proportion of the jobs in our company.”
In addition, he has expressed that in 2020 the need to accelerate the work to create a Holland Casino prepared for the future was demonstrated. For this reason, “we launched the Horizon restructuring project, in which, in addition to cost savings, we also looked at how we could manage the organization more efficiently and effectively. The investments in the two new casinos in Utrecht and Venlo are also paying off. We also invested in our renewed restaurants. Since 23 March of this year, there are no longer any restrictions on visits to Holland Casino. We saw the impact of this immediately in our figures. As a result, we have decided that we will no longer make any use of the Dutch government's NOW scheme as of Q1 2022".
On the other hand, Noël Leise, director of operations, refers to the future and says: “The uncertainty is still there, but we are now assuming that this year we will be able to simply do what we are good at and why we exist: offering gaming in a safe and responsible environment".
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