Holland Casino reports €82.8m online gaming revenue in first half
In just the first half of the calendar year of 2022, Holland Casino made a total of €82.8 million from online gaming. While the overall business managed a total of €353.4 million in top line revenue, the online gaming rise depicts a significant improvement in the overall financials of the business.
Their online gaming revenue stream is a recent addition, making this figure all the more impressive. Lukas Blazek/Unsplash
The online gaming business makes up close to a quarter of the Holland Casino’s revenue. Impressively, this is a new revenue stream for the business considering online gaming was legalized in the region only in October last year. Holland Casino’s business has continued to grow year on year, which represents a sizable increase in the total addressable market (TAM) in the region of Netherlands. These views were echoed by Noel Leise, the director of operations for the company.
“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.”
Holland Casino’s growth
Year on year comparisons are a fair way to assess the volume and rate of growth of a business. Early profits are reinvested into a company to help boost top-line revenue projections for subsequent years. That important step shows in a company’s numbers when compared year on year.
In 2021, Holland Casino made a total of €304.2 million. That number has reduced from 2020 when it was a total of €333.1 million. In just the final quarter of 2021, Holland Casino made a total of 40.4 million from the online gaming business.
Overall, Holland Casino had an EBITDA of 40 million and a pre-tax profit of 8.2 million. This is a significant profit in the online gaming space considering how nascent the industry is. It also proves as a case study for other online gambling businesses that plan to grow their products in the European region.
Netherlands’ gambling legislation
The passage of the Netherlands’ Remote Gambling Act or KOA took place in 2021, paving the way for the legal product offering of online gaming in the region. At the time, it came as substantial relief for the region after the passage of the act was delayed due to the spread of Covid 19. The chairman of the Dutch organization KSA Rene Jansen said the act was an important step for the country.
“Recent years have shown that simply banning online gambling was no longer possible. Legalization and regulation make it easier to protect consumers against abuses. An important step has been taken with the opening of the legal market for online games of chance. Other providers may also be interested, but they are waiting to submit an application because they are not ready yet. Strict conditions must be met and strict testing is carried out, but there will certainly be more licence holders.”
What is Holland Casino?
Holland Casino is a government owned entity that owns and operates casinos and gaming businesses in the Netherlands region. It has a monopoly on the region for this industry. It was founded in 1976 and is headquartered in the Hoofddorp region in the Netherlands. It has both an online business as well as several physical locations for iGaming in the Dutch region. From an online standpoint, Holland Casino has a sports betting business that allows users to bet on a wide variety of sports, such as tennis, football, cricket, basketball, boxing, darts and many more.
According to Holland Casino’s website, “some six million guests” visit their physical casino properties that are scattered around the Netherlands. Holland Casino is regulated and supervised by the Ministry of Security and Justice and pays the profits that it earns to the Netherlands government after transfers to its equity capital.
