Holland Casino has tens of millions of euros because of the Covid-19 pandemic. Between 13 March and 1 July, so in the middle of the Corona virus outbreak, all branches were closed. As result, the company saw its turnover decrease by almost 60 percent in the first six months of 2020.
NOW: Help for employers
Because of the closure almost 4,000 employees suddenly found themselves at home. The turnover of Holland Casino, which is around 60 million euros per month, dropped severely. Holland Casino has made use of the Emergency Bridging Measure for Sustained Employment, in Dutch known as ‘NOW’, which helps employers who got into trouble due to the Corona crisis. They receive up to 90 percent of their employee’s wage costs.
Number of sales dropped
Holland Casino received an advance payment of almost 32 million euros. In the past half year more than 146 million euros in sales were recorded. This is way less than the almost 354 million euros of last year. The result after deduction of corporate income tax came to a minus of 28.3 million euros. In comparison: 32.5 million euros remained below the line during the same period last year.
1.5 meter distance
Since July 1, 14 branches of Holland Casino have opened their doors again. The company is currently able to receive about 30 percent of the regular number of guests. It’s only 30 percent because of the need to keep a 1.5 meter distance. Visitors are required to make a reservation before they can visit a Holland Casino branch.
CEO talks about uncertainty
Erwin van Lambaart, CEO of Holland Casino, isn’t very positive about the prospects in the remaining part of 2020: ‘Unfortunately, the prospects for the rest of this year are not exactly rosy and for next year extremely uncertain’, he said.
At the moment Holland Casino is investigating how the company can remain future-proof. It’s expected that the company will be able to make concrete announcements about this by the end of this year.