Holland Casino Won’t Be Profitable if Netherlands Tax Hike Passes
Dutch land-based monopoly Holland Casino has insisted it is “vulnerable” after a difficult H1 net loss of €3.5 million ($3.9 million). It said the proposed gambling tax rate increase from 30.5 percent to 37.8 percent in 2025 would raise its total tax burden to almost 50 percent.
“This means black numbers are not possible. We will then make a significant loss. Unlike supermarkets, we cannot properly pass on price increases,” chief executive Petra de Ruiter warned.
A tax increase of 1 percent in 2024 had already impacted revenue and the additional tax burden would be “irresponsible” she said.
In a similar situation is Sweden’s horseracing monopoly ATG, which has dubbed Sweden’s 1 July tax increase from 18 percent to 22 percent of GGR “illogical”. ATG believes it will have a disproportionate impact on the operator.
Portugal Body Warns 41 Percent of Players are Gambling Illegally
The Portuguese Online Gambling and Betting Association’s (APAJO) annual study revealed that 41 percent of all players use unlicensed gambling platforms. Among age groups between 18 to 34, that figure rises to more than half – 52.1 percent.
Among those surveyed for the “Portuguese Online Gambling Habits 2024” study, around 90 percent knew that it is illegal to offer gambling services without a license in Portugal. APAJO said there are four illegal operators in the national top 15 online gambling platforms.
Ricardo Domingues, president of APAJO, said licensed operators, the legislature and regulator must work together to reach a channelization rate of at least 80 percent.
Meanwhile figures for Q2 saw online gambling revenue in Portugal reach €261.8m million ($289.2 million), a record figure and the eighth consecutive quarter in which revenue has hit an all-time high.
KSA Orders Sauber F1 To Rename Dutch Grand Prix Betting Sponsor
Dutch gambling regulator Kansspelautoriteit (KSA) has warned the Sauber Formula 1 team not to promote the Stake.com brand during the upcoming Dutch Grand Prix as the crypto gaming specialist is not licensed in the country and therefore deemed illegal.
Sauber, which races under the official name ‘Stake F1 Kick Sauber Team’, is among the teams taking part. But advertising rules in the Netherlands mean the team will not be able to use its full name as it is illegal to advertise gambling operators that do not have a gambling license in the country.
“Stake is an international gambling provider and main sponsor of the team. Stake does not have a license from KSA and is therefore not allowed to offer gambling in the Netherlands,” the KSA said in a statement.
The Dutch Grand Prix will take place this weekend at Circuit Zandvoort near Harrlem in the Netherlands.
Closure of Monopoly Casino in Sweden Could Raise Illegal Gambling Risk
In May the Swedish government advised land-based monopoly operator Svenska Spel to close its final retail casino in Stockholm, following ongoing challenges for the business to reach profitability.
But gambling regulator Spelinspektionen has raised concerns that the closure could force gamblers into illegal and underground gambling clubs. “There is today a prevalence of illegal gambling clubs in the country,” Spelinspektionen said. “However, the extent is unclear.
For its part, gambling trade body BOS has asked that the government allow private casinos to reinvigorate the land-based sector, which like other regions, suffered during the Covid pandemic.
William Hill Owner Turns to Revamped Product to Uplift H2 Revenues
William Hill-owner Evoke plc is turning to automation and AI to revamp its product suite and uplift revenues in the second half of the year. After reporting disappointing earnings for the first half of the year, the operator is banking on a total strategic turnaround and major update to its online offering.
Evoke reported a 2 percent decline revenue to £862 million ($1.1 billion) on July 15, with adjusted EBITDA falling 26 percent year-on-year.
A revamped Betbuilder will drive revenue and profit growth by allowing players more flexibility to place bets. A new product, Impact Sub, where a player-specific bet transfers when they are substituted, is also coming in H2.
Further changes to the deposit experience, amid a wider focus on customer experience enhancements, are in the works.
