Holland Casino warns of financial uncertainty amid rising gambling taxes

Holland Casino has expressed concerns about its financial future, citing rising gambling taxes as a major threat to the sustainability of its operations. 

In its newly released annual report, the state-owned gambling chain noted a "material uncertainty" about the rising costs, which could cast doubt on the company’s long-term viability, NL Times reported.

In 2024, the company reported a €10.4 million (US$11.8 million) loss. Auditors have accepted the company’s plans to stay afloat but say “far-reaching measures” are needed to keep paying bills by early 2027.

While visitor numbers to Holland Casino locations increased over the past year, guests spent significantly less per visit. Additionally, the company’s online casino saw a decline in turnover, mirroring trends observed across the gambling industry. Meanwhile, operational costs continue to climb.

The gambling tax is set to rise again in 2025 and 2026, compounding financial pressures. In response, Holland Casino has undertaken significant cost-cutting measures, including a major reorganization at its headquarters that resulted in hundreds of job losses. The company has also closed its casino in Zandvoort and is trialing lower odds for roulette games in an effort to manage costs.

A temporary reprieve came in the form of a payment break from the Dutch Tax Authority on debts incurred during the COVID-19 pandemic, alongside a more lenient repayment plan. Still, the casino operator said it will closely monitor costs moving forward and intends to increase digitalization of physical processes across its venues.

While the board is considering additional steps to improve its financial position, it has not yet disclosed what those may entail.