Road to post-pandemic recovery: Holland Casino opens 14 new branches
Over the last six months, Holland Casino has seen its first post-pandemic route into recovery. After forced closures for over five months due to the pandemic and its restrictions, as expected this had a harrowing effect on many companies and had negatively impacted Holland Casino’s results.
Now, however, pieces of the post-pandemic puzzle are starting to form a bigger picture, a hopeful one. Fourteen branches have opened since last June, with the turnover indicating the casino will shortly start operating again.
The H1 turnover results showed a sum of €28.8m ($33.8m), with the net result for VPB amounting to a detriment of €64.8m, compared to a loss of €37.8m in 2020.
Erwin van Lambaart, Holland Casino CEO, said: “Although corona has also hit our company head-on in the first half of 2021, notably our anniversary year in which we exist 45 years, we still look ahead with confidence. All in all, the Netherlands was deprived of legal casino offerings for almost a year, but now that the corona measures are disappearing little by little in the Netherlands, recovery is in sight.
“The resilience and dedication of our people, the general support measures from the Government and a clear strategic investment vision for our future make us strong. We see bright spots in the potential offer of online games of chance as of 1 October next, for which we have applied for a licence and the opening of our new world-class casino branches in Venlo and Utrecht.”
Ruud Bergervoet, Holland Casino CFO, adds: “Fortunately, we were once again able to have sufficient liquid assets in the past six months to get through this difficult period of closure.
“The significant tax debt of €190.5m is offset by a strong liquidity position without bank debt. We are therefore considering paying off this tax debt more quickly if no new corona measures are introduced and the recovery actually continues. The results after June are promising in that regard.”
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