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Holland Casino suffers dramatic decline

11 May 2009

HOLLAND -- As reported by "Holland Casino witnessed an 83% fall in net profits last year as the combination of economic recession, a new smoking ban, tax reforms and increased competition from internet gambling battered the monopoly operator."

"Operating profits from the company's 14 casino venues in the Netherlands fell to 14.3 million euros in 2008, Holland Casino confirmed last week, down 83.2 % from 85.6 million euros the year previously. Annual EBITDA also fell dramatically, dropping 44 % from 144 million euros to 80.4 million euros on gross revenues that were down 7.5 % to just over 700 million euros..."

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