Holland Casino, the Netherlands’ gambling monopolist, doesn’t have good financial news about its 2020’s results.
The company provided a report describing its revenue during the year, which was influenced by the COVID-19 pandemic immensely.
2020 was the hardest year for Holland Casino
According to the report, the state-owned gambling company incurred considerable financial losses as its venues were open without restrictions for only 71 days (while all casinos were closed during 143 days). It led to 54% less income in comparison to 2019’s 729 million euros. 2020’s GGR of 333 million euros is the result of only 2.5 million visitors (by 60% less in comparison to the previous year). At the same time, the amount of spending grew by 13.7% to 133 euros.
The situation resulted in the corporation tax decrease by more than 170 million euros, which was a loss of over 80 million euros. The crisis, however, hasn’t undermined the operator’s state as a business entity as it emphasizes its robust liquidity position. Holland Casino explains this by the fact that the company has got support from the government as well as the postponement of tax payments.