A new Netherlands government sworn in this month plans in its coalition agreement to sell Holland Casino, and said that online betting and gambling will be legalized.
“It is unclear at this stage if it will be a sale or an initial public offering,” Justin Franssen, a lawyer specializing in European gaming law, told Reuters. “The government hasn’t decided how the sale will take place.”
Holland Casino has 14 venues in the country’s larger cities and tourist spots, including Amsterdam and Rotterdam. They attract about 1 million visitors a year and earn a small profit of about €3.8 million (US$4.9 million) from more than €500 million in annual revenues.
In the face of a weak economy and lower consumer spending, Holland Casino said in December it would cut about 10 percent of its workforce over the next two years to save €50 million a year in costs.
Franssen said he expects local arcade operators and British and U.S. companies to be interested in bidding for it, but declined to estimate the value.