Netherlands passes casino privatisation bill
The bill still has to pass the Senate before coming into full effect.
Netherlands.- The Dutch Lower House passed a bill that wants to privatise half of the state owned Holland Casino. The gaming facility is currently the only land-based casino operator in the country allowed to offer live table games, and a future sell could bring more than US$1 billion.
Before the operator can split its shares, the bill needs to pass the Senate. Holland Casino features 14 branches, and it is estimated that 10 of them will remain part of the casino, whilst four will be sold. Two other land-based casino licenses would also be created in the European country.
If the Senate passes the bill, the private party that acquires the ten branches would not be able to acquire the remaining six licenses. Furthermore, the licensees will be forced to continue to employ the current employees of the Holland Casino.
The bill also establishes that the Netherlands Gaming Authority would supervise the buyers and their operations, besides consulting with law specialists before issuing a new land-based casino license. Even if this is a big step, the Senate will not discuss the bill until the Lower House elections in March.
