Holland Casino posts €33m 2025 pre-tax profit, but warns of structural pressures ahead

Holland Casino has closed 2025 with a pre-tax profit of €33m, compared with a loss of €1.3m in 2024, according to its annual report. Gross revenue rose by 4.1% to €799.9m, and EBITDA increased by 43% to €101m.

However, the result was mainly driven by targeted cost-cutting measures and one-off gains, with only a limited contribution from revenue growth.

The land-based business performed better than in 2024. Visits rose to 5.3 million, while average spend per visit increased to €140. Online revenue stabilised following the introduction of sector-wide gambling limits.

Holland Casino CEO Petra de Ruiter stated: “Thanks to the great dedication and focus of our employees, we concluded 2025 better than initially expected. This shows that the organization is resilient.

“At the same time, we must interpret this outcome carefully: it says too little yet about the structural financial position of Holland Casino. We will have to continue investing in digitalization, new gaming concepts, and the execution of the preventive care task.”

The company said the positive result was mainly achieved through cost-cutting measures, including restructuring at the head office, as well as one-off gains from the sale of land and premises.

It also warned that the result provides some financial headroom but does not change ongoing structural challenges, including rising costs and a further increase in gambling tax to 37.8% from 1 January 2026.

In 2025, Holland Casino paid €251.8m in gambling tax, an increase of €28.9m compared with the previous year.

The Netherlands' gambling authority, KSA, published its 2025 annual report on April 20, revealing that the country's online gaming market contracted by 18.5% last year, a notable reversal after 4.9% growth recorded in 2024. 

The regulator attributed the decline to two concurrent factors: betting stake limits introduced in October 2024 and a gambling tax increase that took effect in January 2025.