Holland Casino Sale By 2020
The sell-off of state run Casino Operator Holland Casino has now got a timeline as more details of the plans were released by the government.
Dutch State Secretary of Finance Menno Snel said that the sale of the 14 casinos operated by Holland Casino will be finalised by the middle of 2020.
It was back in 2016 under a previous government that the announcement was made that Holland Casino would be placed into the private sector, but as the old government left office the actual details of the sell-off were not made clear.
However now there are more details as Mr Snel made it clear that Holland Casino is no longer priority for the Dutch Cabinet.
According to the Minister the sale will involve 10 of the 14 casinos operate by Holland Casino to be sold as a block (no details of which 10 had been made) and then the remaining 4 casinos to be sold separately.
The Minister also made it clear whoever purchases the 10 casinos cannot go and then buy the other 4 remaining. Along with the sale of Holland Casino the government are putting two more casino licenses into the mix making a total of 16 casinos. Once again if the private company buys the 10 they will not be allowed to purchase any others.
One stipulation with the sale of all the casinos is that all employees will keep their jobs, Holland has a strong union base within Holland Casinos.
Once the full sale has been completed the government expect to raise some €1 billion for the state.
However all the plans mentioned have still to be voted on by the Dutch Senate to allow for the sale and a timeline for that vote is yet to be made.