Holland Casino posts €353m in H1 revenue as land-based operations return
Dutch operator praises strength of its online division among strong competition in latest financial report
Holland Casino has recorded €353.4m in H1 2022 revenue as the operator’s land-based operations came roaring back following Covid-19 restrictions in 2021.
The operator returned a 1,127% increase in H1 revenue after the firm’s land-based venues were shuttered from January until early June in 2021.
The revenue rise also accounts for Holland Casino’s online operations, which launched on 1 October 2021 when the regulated market went live.
Of the group’s €353.4m H1 revenue, €82.8m was derived from its online division.
Elsewhere, Holland Casino noted an EBITDA for the first six months of the year of €40m and a pre-corporation tax profit of €8.2m.
Additionally, Holland Casino confirmed it had repaid €51.7m of tax debt accrued as a result of Covid-19 shutdowns. The total deferred tax amount, up to and including March 2022, is €313.4m.
Touching on this repayment, CFO Ruud Bergervoet said: “We are making a profit again and are in good financial shape. The deferred tax will be repaid in a maximum of sixty instalments from October. We are also looking at whether it is possible and responsible to do this more quickly without jeopardising the further financial recovery of Holland Casino without losing sight of the normal investment level.”
In June, Holland Casino secured a swathe of new benefits for its employees following a deal between the operator and two Dutch trade unions.
The agreements, brokered by FNV and De Unie on behalf of Holland Casino employees, will see staff awarded a 3.25% wage increase over the next six months.
Noël Leise, Holland Casino director of operations, praised the lifting of Covid-19 restrictions and the growth of the firm’s online division.
He said: “Fortunately, our loyal guests have found Holland Casino again en masse. And our committed employees do everything they can to ensure that they have a great time at Holland Casino. We also see that our online guests continue to appreciate our offer despite the increasing competition.
“We therefore expect a positive year for Holland Casino. Of course, that still depends on the Covid-19 developments in the autumn and how quickly we can have enough employees in the tight labour market. But these half-year figures again form a promising basis. In the coming six months, we will continue to build a stable, responsible and future-proof company with renewed energy,” Leise added.
Elsewhere, Petra de Ruiter is set to become Holland Casino’s new CEO from 1 September following the departure of Erwin van Lambaart.