Holland Casino has reported revenue of €390.9m (£339.7m) for the first half of 2025, with a series of cost-cutting measures helping offset the rise in tax in the Netherlands.
The operator said land-based revenue was up “slightly”, although online revenue declined compared to H1 2024.
Profit flipped to a €14.2m gain as the operator attributed the increase to a series of cost-saving measures the company has implemented since the beginning of the year.
The figure represents a significant increase on the €3.5m loss recorded in the corresponding period last year.
Cost-cutting led to operational cost savings of €30.1m for H1, excluding one-off revenues, thanks in part to “targeted savings, including a restructuring at the head office”.
Despite the cuts, Holland Casino has also been impacted by the increase to gaming taxes in the Netherlands, with the rate increasing from 30.5% to 34.2% in January 2025.
This led to additional costs of €13.5m for the first half of the year. The tax rate is set to increase again, rising to 37.8% from 1 January 2026.
In February, the operator confirmed redundancies would take place as a result of the tax hike, with the aim of reducing company headcount by 20%.
The business was able to offset the costs of the tax increase by selling off land-based venues in Groningen and Zandvoort for a combined €11.4m.
Group CFO Ruud Bergervoet called for caution despite the positive results.
He said: “We’ve asked a lot from our employees, but the results are certainly worth it. I’m especially proud that our guests continue to visit and appreciate us. But we can’t count ourselves lucky.
“The financial pressure remains high, especially considering the planned second increase in gaming tax in 2026. If the gaming tax rate had already been at 37.8%, we would have closed the first half of the year with a profit of €1.1m, or a loss of €5.5m if we didn’t have the one-time revenue from sales.
“This shows how vulnerable we are, despite all our efforts so far. The results are impressive. But we shouldn’t count our chickens before they hatch.”
In March, Holland Casino appointed Jan Paul van Heemskerck van Beest as the new director for the company’s online division.
The post Holland Casino generates €391m in H1 revenue after cost-cutting spree first appeared on EGR Intel.
CFO Ruud Bergervoet warns the operator “shouldn’t count our chickens before they hatch” as further tax hikes loom
The post Holland Casino generates €391m in H1 revenue after cost-cutting spree first appeared on EGR Intel.