Higher gambling tax could lead to bankruptcy for Holland Casino, gambling company says

Holland Casino is expecting the increase in costs due to higher gambling tax to lead to doubts regarding the future of the business. In their annual report, the company wrote that although they expect operations to continue, there is “material uncertainty” regarding the costs.

Accountants questioned Holland Casino stringently. They accept the expectation from the company that they will be able to continue operations, but “far-reaching measures” are needed to be able to continue paying the bills at the start of 2027. Holland Casino suffered losses of 10.4 million euros last year.

The state-owned gambling establishments welcomed more guests, but the guests spent less money per visit. The gambling chain’s online casino also recorded a lower turnover. Holland Casino has said that this is also the case with other gambling companies, while the costs rose.

The gambling tax will increase this year and in 2026. The board had to reorganize due to extra costs, which led to a loss of jobs for hundreds of employees at the company's headquarters. They were also forced to close one of their casino’s in Zandvoort and the company are experimenting with lower chances of winning at roulette.

A payment break from the Dutch Tax Authority for the debt collected during the coronavirus pandemic gave the company some breathing space, in addition to an agreement about a longer repayment term.

Holland Casino wants to keep a close eye on the costs during the coming period and wants to digitalize more of the physical work in their casinos.

It is not yet know which measures Holland Casino will take to improve the financial situation. The company is looking at several possibilities, but does not wish to comment on these at this time.

Holland Casino is making the argument that a legal casino chain is important in order to provide responsible gambling. But fighting against addiction is harder to do when the company is losing money, CEO Petra de Ruiter said. “I think it is important to emphasize that prevention is human work and will remain so. Safety and responsible gambling require sufficient investment space.”