Netherlands: State gambling monopolist Holland Casino in dire straits

The state owned Holland Casino is under heavy financial fire. Recently it has been put under special supervision, due to a rising debt burden of € 60 million, rapidly going on €100 million. The past couple of years the casino encountered financial difficulties, as a result of the rising competition of online gambling companies, high staff expenses for table games such as roulette or blackjack and a loss-making hospitality branch. Holland Casino now attempts to save on costs up to €36 million by making drastic cuts on employee expenses, thus saddling itself up with furious trade unions. Interestingly enough, the state announced that Holland Casino will not receive any financial aid.