Holland Casino has reported an increase of EUR405.3m in the first six months over last year. This is due to a higher number of visitors.
In the Netherlands, approximately 2.5 million visitors visited Holland Casinos in the first six months of 2023. The number of visitors was up from 1.8m in the first half of 2022 when Covid-19 was imposed, but down on pre-pandemic numbers.
The average amount spent per guest has decreased slightly over the last six months. The EUR138 H1 average was lower than the EUR148 H1 of last year, but still higher than EUR117 prior to Covid-19.
Petra de Ruiter, CEO of Holland Casino said: “We’re happy to see that more and more guests find us.” Not all of our visitors are returning yet.
We can now offer the full range of games, as our operations are improving and we’ve attracted new staff. The recovery will continue. “We now have the basis to create new plans and work with positive energy.”
Cost increases are putting additional pressure on the economy
Holland Casino continues to face higher costs, despite its steady progress. This includes increased energy costs and inflation as well as higher personnel costs following the addition of four hundred eighty new employees.
Holland Casino has also highlighted the tax debts from Covid-19, saying that this must be paid. Deferred investments are also required, which can impact the liquidity of the company.
Ruud Berervoet, Holland Casino’s chief financial officer said: “I am happy with our current position.” We cannot relax. The near future will be filled with significant challenges.
The cost increase will depress the results of our company in coming years. We will have to also pay our Covid-19 debt.
We must maintain investments in order to be relevant for guests. We will need to constantly monitor the balance between healthy finances and future investments.
Casino visits are on the rise, but online business is declining.
Holand Casino reported declines in its online business, even though the company’s land-based operations continue to grow. The increased competition has caused the H1 revenue to fall by 30.8%, to EUR57.2m.
Holland Casino cited “social decisions” as another reason for its decline. This includes its voluntary decision to stop various advertisements in anticipation of the new laws which came into force in July. The operator expects to see a small recovery, now that the advertising rules are aligned across the market.
