Holland Casino brings bad news: ‘Major consequences’
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4 Oct 2024 •
Reading time: 2 minutes Holland Casino has decided to close the doors of its historic establishment in Zandvoort for good. This is a drastic decision that will take effect on 1 February. The staff was informed during an emergency meeting yesterday.
An official announcement followed later on the company’s website. The closure of the first casino in the Netherlands, ever the flagship of Holland Casino, marks the end of an era. Perhaps a private sector party will step in to take over the branch.
Why Holland Casino Zandvoort is closing
The closure of the casino in Zandvoort has several causes. According to a spokesperson for Holland Casino, the main reason is that the operation of the establishment is no longer profitable. The recent increase in gambling tax has accelerated this process. But it was not the direct cause.
The spokesperson explains: “The casino has not been running well for a while, and the increased tax makes the situation more urgent. In addition, the establishment overlaps with our locations in Sloterdijk and Scheveningen, while tourism in Zandvoort no longer yields what it once did. It is painful, especially because this was the first casino in the Netherlands, opened in 1976.”
Staff already saw the storm coming
The closure did not come as a complete surprise to the staff. Dennis Gielen, Manager Operations at Holland Casino, had already sent an internal message the day before the official announcement. In which he informed the employees that important news would be coming.
He said that anyone who could not be present could always speak to him or call him for a personal explanation. Many employees already felt at that moment that bad news was coming.
Increase in gambling tax causes more pressure
The situation became increasingly difficult for Holland Casino when it was announced that the gambling tax would be increased in several steps. The tax already rose to 30.5 percent. Further increases are planned to 34.2 percent in 2025 and ultimately 37.8 percent in 2026. CFO Ruud Bergervoet previously indicated that these tax increases would significantly increase the pressure on the company.
In 2023, Holland Casino achieved a turnover of 818 million euros. Of which 224 million euros went directly to the Tax Authorities. According to Bergervoet, Holland Casino would have to generate an additional turnover of 100 million euros to compensate for the higher taxes. However, he called this “impossible without losing sight of our social responsibility.”
The closure of the Zandvoort branch can therefore be seen as a direct consequence of the financial pressure that these increases entail. It is expected that this may not be the last branch to close.