Netherlands: State gambling monopolist Holland Casino in dire straits

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Explore:  Casinos Debt EU Gambling

The state owned Holland Casino is under heavy financial fire. Recently it has been put under special supervision, due to a rising debt burden of € 60 million, rapidly going on €100 million. The past couple of years the casino encountered financial difficulties, as a result of the rising competition of online gambling companies, high staff expenses for table games such as roulette or blackjack and a loss-making hospitality branch. Holland Casino now attempts to save on costs up to €36 million by making drastic cuts on employee expenses, thus saddling itself up with furious trade unions. Interestingly enough, the state announced that Holland Casino will not receive any financial aid.

Topics:  Casinos, Debt, EU, Gambling

Published In: Art, Entertainment & Sports Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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