In the Amsterdam, the lower house of representatives legislative body has passed a measure that could see state opened gambling operator Holland casino privatized before having some of its licenses sold off. This casino is situated in the Amsterdam entertainment area close to the Leidseplein the museums and the canals and after a major restyling we are proud to present you with an attractive venue in the heart of Amsterdam and the part of this casino Amsterdam center and accommodates a variety of entertainment. The intended privatization of land-based this casino chain of this casino has taken a decisive step forward. The Dutch government sent a bill to parliament containing a proposal to sell the state-controlled these casinos.
Political background of this casino
The new government coalition consisting of liberals and democrats decided the Dutch state no longer needed to keep its monopoly on running casinos. In this coalition agreement, liberals and democrats agreed that this casino would be privatized within a few years and although politicians of these both parties felt that gambling should remain strictly regulated on account of risks of fraud, this would no longer mean that Holland casino would have to continue as a state-owned company and even after this privatization the risks associated with gambling could be controlled by giving out gambling licenses under very strict conditions. By having a tough supervising authority.
The Dutch government initially intended to sell this casino and privatize the Dutch casino market as early as 2017 and these plans however suffered a major setback when this casino posted alarming losses in 2012 and in 2013. In 2012 this casino posted a loss of many millions of euros and which grew to more million euros and according to some of the experts this made the Dutch casino chain one of the few losses that is generating gambling enterprises in the world. This casino was suffering from a combination of economic conditions and increasing competition from illegal online gambling sites.
Rising profitability in Holland casino
Now the situation has changed for this casino and after major cost cutting, a restricting and several changes at board level, the outlook for this casino is completely different now. The estimate could well be too low and the average EBITDA of this casino over the three years is to be a large degree negatively impacted. Assuming that the forecast in this casino the annual report are correct and that this year`s results will be at least as good as in last years. The proposed legislation reportedly also mandates that the buyer of this casino and its casinos would not be permitted to acquire any of the remaining six licenses while in future operators are to be required to guarantee the jobs all employees at their purchased venues and finally the legislature would moreover dictate that the district court of the Hague handle all preliminary relief procedures during this casino`s transition period while all future operators are be prohibited from offering bonuses.