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Holland Casino Placed Under Supervision

Thursday October 3,2013 : HOLLAND CASINO PLACED UNDER SUPERVISION (Update)

Dutch gambling monopoly's debts headed towards Euro 100 million.

The Dutch state land gambling monopoly Holland Casino Group has been put under direct supervision because its finances are in such poor shape, the Financieele Dagblad reported Thursday.

DutchNews.nl expanded on the story, revealing that the monopoly is set to cut a further 150 jobs and reduce staff benefits and incentives in an attempt to get a grip on debts that total Euro 60 million at present, but look set to reach Euro 100 million.

The Financieele Dagblad says the company is in trouble due to falling visitor numbers and lower casino-spend by those that do visit its 14 casinos.

Turnover has dropped by 30 percent over the past five years, a spokesman revealed. Last year the company announced plans to restructure and cut 400 out of 3,000 jobs. Between 2008 and 2012 it also shed 800 jobs, the FD said.

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