The Holland Casino Group, a Dutch land based gambling operator lost a total of €22.3 Million during 2013. The main reason for this is because Holland punters were able to win more money than the casino was able to earn, unfortunately this is one of the risks that comes with owning a gambling related establishment.
This news came to light after the Netherlands announced that they would begin to offer a legal and regulated online gambling market to the country in 2015. This in return will allow for the Holland Casino Group to earn more revenue than they previously were able to back in 2013. There hasn’t been any news regarding how well the group has been doing in 2014 but due to the Netherlands regulating online gambling right now we suspect they’ll have the same results as they did in 2013.
A large portion of the losses were due to a series of debts they had in reorganizing costs. In total the Holland Casino group spent €28 Million on reorganizing costs. A large portion of this was returned back to them through taxes but none the less still effected their overall profit for 2013.
Overall the casino group was able to earn a total of €373 in revenue which is lower than the €400 Million they were able to earn back in 2012. Analysts have stated that they believe that the loss in revenue is due to the poor economic state of the Netherlands.