Holland Casino reported last week a loss of €28m (USD 33.3 M) in the first six months of 2020, as turnover fell by almost 60% due to the coronavirus lockdown.
In order to offset the Dutch state-owned gambling group’s losses, the government has agreed not to take up to €68m in dividends which should have been paid out over last year, Dutch News reports.
In addition, the casinos have had some millions of euros in government support to help pay the wages of the group’s 4,000 strong workforce.
"Our second-half figures will not be good either because of all the limiting factors,’ director Erwin van Lambaart said. "We are now looking at how we can make sure our company is financially sound and future proof in this difficult period."
Holland Casino has fourteen casinos right across the Netherlands.
Casinos are now open again, but pundit numbers have been slashed to 30% because of social distancing regulations.
Van Lambaart said he would be able to give further details in December.
Holland Casino is public limited company (Naamloze Vennnootschap - N.V.) that remits its net profits to the government, with the exception of additions to the company’s equity. The Finance Ministry is the pseudo-shareholder. The Justice & Security Ministry is the regulatory body for the gaming sector. And the Dutch Gaming Commission (Kansspelautoriteit – Ksa) is the licence-issuing body.
See the company's press release (in Dutch) here.