Holland Casino reported €58.8m loss in 2020

Holland Casino has released its annual report for 2020, stating that revenue was down 53.8% from 2019 to €333.0 million.

After only 71 days of operation without any restrictions, visitor numbers were down 60.0% year on year to 2.5 million.

However, the average spend per visit increased by 13.7%, from €117 in 2019 to €133, owing to a “different visitor mix,” according to Holland Casino.

The bulk of the operator’s €333.0 million in sales came from slot machines, which brought in €185.9 million. While table games brought in €124.7 million, tips brought in €10.7 million, food and drinks brought in €10.3 million, and other benefits brought in €1.4 million.

Gambling taxes fell by 53.8 percent to €94.5 million, but the operator could defer €74.9 million of this.

When combined with operating costs, which fell from €442.5m in 2019 to €318.0m, resulted in a loss before tax of €80.7m. In 2019, the net profit before tax was €86.9 million.

Holland Casino then earned a €21.9 million corporate tax credit, resulting in a final loss of €58.8 million.

However, Holland Casino stated that it has remained financially strong, with a solid liquidity position, and that it will continue to invest strategically in its future.

Holland Casino also revealed that it will reopen gradually at the end of April as part of a pilot program.

All visitors to the casinos are now required to make a reservation and bring a negative Covid-19 test certificate.

The operator intends to test the new system to see whether Covid-19 testing would enable its venues to reopen sooner.