The Netherlands’ state-owned gaming operator, Holland Casino, is closer to going bankrupt after being put under direct supervision.
This comes after the company racked up debts of over €60m, a figure that could soon rise to €100m. In a bid to avoid bankruptcy the company has cut 150 jobs and taken away benefits for employees. Holland Casino has a monopoly in the country with 14 casinos in operation. The problems have been caused by lower visitor numbers and lower spend per head. Some observers in Europe place the blame on the management failing to adapt quicker to changing circumstances within the sector and customer needs.
