Holland Casino Turns a Profit

After seven years of declining revenues, state-run Holland Casino in the Netherlands has posted a profit of US$13.3 million for 2014. The change follows a reorganization and cost-cutting that included layoffs of several hundred employees.

Dutch state gambling monopoly Holland Casino has reported its first net profit in seven years, according to the Dutch News. The casino operator cleared €12 million (US$13 million) last year, a marked upswing from 2013, in which it posted a €22 million (US$23.6 million) loss.

The improvement follows a reorganization, which included a 25 percent reduction in the workforce and the decision to place slot machines in smoking areas, said the company, which is wholly owned by the state.

The government said last year it plans to sell the casino group, which operates 14 locations. Ten would be sold off in one lot, the other four as individual casinos, the News reported.