Holland Casino experiences revenue loss in the Netherlands due to venue closures

Home » Holland Casino experiences revenue loss in the Netherlands due to venue closures

Casino closures due to Covid-19 are affecting operators around the world. Even though facilities are opening back up, the loss from the closure is being felt tremendously. For Holland Casino in the Netherlands, the brand experienced a tough six months due to casino closures lasting over three months due to the virus outbreak. The company saw a 58.7% decrease from the same time frame in 2019 and only generated €146.3m.

Major Impact

The fourteen venues of Holland Casino were closed starting on March 13 and continuing through July 1. This year was successful for the brand until the virus hit. Visitor spending was up as well as attendance. According to CEO Erwin van Lambaart, the pandemic hit the company hard. Almost 4,000 employees were without work and around €60m a month was lost.

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According to CFO Ruud Bergervoet, the company had enough liquidity to get through the closure time frame. The shareholder was prepared early on not to receive a dividend for 2019 right now which provided financial scope for the company.

Getting Back to Work

Holland Casino reopened its venues on July 1 and used sector protocol for safety and health measures. Social distancing is practiced along with a lower number of guests on-site. Just recently, Holland Casino tightened restrictions even further at its locations to ensure a quality environment.

The company expects its revenues for the remainder of the year to be tight as they are operating with restrictive measures in place. They are now looking at how they can stay financially healthy and future-proof the company during this difficult time period.

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