Holland Casino has urged the Dutch government to scrap the incoming tax hike after the group reported full-year 2024 revenue slumped 4.1%, with total gross revenue sitting at €784m.
The Netherlands-based operator also posted losses of €1.3m before corporation tax, a notable decline from the year prior’s total net income of €31.9m,
Additionally, adjusted EBITDA sat at €70.6m, representing a fall of 28.4%.
Holland Casino’s online division produced €85.2m in revenue, marking a 26.5% drop from 2023’s total of €116m, though market share decreased “only slightly”.
The company noted that its online efforts were hamstrung by deposit limits, which came into effect on 1 October 2024 and had a “significant impact” after nine months of stable gross gaming revenue (GGR).
Despite operational costs falling, the impact of deposit limits meant Holland Casino ended the year with a “negative operating result”.
Land-based revenue suffered a marginal decline, with 2024’s revenue total of €698.8m, demonstrating a slight drop from €701.7m the year before.
Meanwhile, gambling tax in the Netherlands has been a source of debate for some time, with the Dutch government outlining its plans to hike the rate in two phases last September.
At the start of 2024, the rate sat at 30.5%, though that increased to the current rate of 34.2% in January 2025.
It is set to rise again next January to 37.8%, making it one of the heaviest tax burdens in Europe.
Enforced by the nation’s right-wing coalition government, the increase in tax is expected to generate returns of €202m per year by 2026 for the state.
In the case of Holland Casino, the operator paid €222.6m in tax over the course of 2024 versus €224.7m in 2023.
The business has called on the Dutch government to rethink its phased tax hike before the new rate comes into effect next year.
Addressing the subject, Holland Casino CEO Petra de Ruiter claimed the tax increase was the “most important development” of 2024.
She explained: “This tax increase has serious consequences for our business operations and already had an impact on our organisation in 2024.
“As a result, we were forced to implement cost savings and announced a restructuring of our head office and an adjustment in the regional structure.”
De Ruiter continued by shedding light on the impact the increase is expected to have on the company, noting that Holland Casino anticipates rising costs of near €30m as a result.
The Holland Casino CEO also dubbed the tax change “irresponsible”, but reaffirmed that the growing strain on finances will not deter the operator from its responsible gambling initiatives.
“The proposed increase to 37.8% gambling tax in 2026 requires drastic choices that, even after further study, are irresponsible in our opinion,” De Ruiter remarked.
“We will not make any concessions to our social mission and, in line with the recently published vision of the Ministry of Justice and Security, we will continue to offer a responsible and attractive legal offer.
“To ensure this, both the attractiveness of our offer and the continuity of the company are of crucial importance. Attractiveness is essential to keep players within the legal offer and to prevent guests from switching from physical casinos to online alternatives.
“To do this, we must be able to invest and innovate. The announced increase in gambling tax makes this virtually impossible.”
As a result of the tax rise, Holland Casino had requested a six-month payment break from the Dutch Tax Authority linked to debt accrued during the Covid-19 pandemic, alongside an extended repayment plan.
The operator has confirmed that repayments will resume this month, with the break running from October 2024 until March 2025.
The post Holland Casino dubs Dutch tax hike “irresponsible” after posting losses for FY 2024 first appeared on EGR Intel.
CEO Petra de Ruiter notes that the January 2026 change in tax rate to 37.8% will have “serious consequences” amid fears it could lead to increase in black market activity
The post Holland Casino dubs Dutch tax hike “irresponsible” after posting losses for FY 2024 first appeared on EGR Intel.