With a little over a week until the Dutch elections, it could spell significant change for the state-owned Holland Casino.

In a world where the geopolitical tectonic plates are rapidly rupturing, it is only natural for the next government of the Netherlands to focus on defence and education – two of the main pillars that guarantee a country’s inviolability.

This commitment was made across the manifestos of 10 of the leading Dutch parties, as confirmed by the Netherlands Bureau for Economic Policy Analysis (CPB), an independent institute for market and policy research.

However, these goals require significant financial investments, and some parties are ready to part with a large number of government shares to cover the costs – including shares in Holland Casino.

The CPB reported that the CDA party is ready to give up full state control over the casino, alongside other state shares in companies like TenneT Germany and ABN Amro, which would unlock a total of €23.7bn in additional funding.

This has not come as a surprise, with the CDA being a long-standing supporter of the idea to fully sell Holland Casino citing inability to compete with the licensed market.

Another party that is considering the same move is JA21, which is also looking at selling shares in ABN Amro and BNG Bank. Coupled with Holland Casino, the party’s estimates are around €13.5bn in extra capital.

While not currently present in other parties’ financial plans, selling Holland Casino shares could still end up as a viable option for more political formations.

The casino itself has been dealt blow after blow in recent times, most notably underperforming in 2024 which has put its long-term sustainability under question given that the Dutch market will bring the tax rate up to 37.8% in 2026 – a move which Holland Casino has fought tooth and nail against.

Its land-based properties were also significantly impacted during the COVID pandemic, struggling to recover after – much like Sweden’s Casino Cosmopol, which was recently sold by the state as a result.

If there are any good news to be had on the background of all the above, it is that the Dutch regulator Kansspelautoriteit (KSA) just announced that land-based operators who were forced to close due to COVID are viable for a partial refund on the gambling levy paid in 2020/21.