Ron Goudsmit, Founder of Easyplaytime and Honorary President of the European Casino Association. Presentation atbGaming in Holland 2016.

1. Holland Casino - history
• 1974: Founda-on of “Na-onale S-ch-ng tot Exploita-e van
Casinospelen in Nederland” (later renamed: Holland Casino)
• 1975: HC awarded the monopoly to operate casinos in NL
HC is a crown corpora-on (Ministry of Finance/Ministry of Security & Jus-ce)
• February 1976: start training of the first class of Dutch dealers
• 1 October 1976: Opening of the 1st Holland Casino in the sea
site resort of Zandvoort (40 years)
• From 1976 -ll 2006: Opening of 14 Holland Casinos across NL
• Innova-ve, progressive, leading casino company, AAA-brand
• Holland Casino Interna-onal (-ll 2004)
• 1991: Start of the Master Classics of Poker (25 years)
easyplaytime.com

2. Holland Casino - loca1ons
easyplaytime.com

3. easyplaytime.com
756,7
700,1
595,6
546,3 557,1
540,5
503,5
521,2
576,2
93,2
15,1
-2,5 -9,9
3,8
-0,7 -22,3
12
67,3
-100
0
100
200
300
400
500
600
700
800
2007 2008 2009 2010 2011 2012 2013 2014 2015
€ millions
year
Revenues Holland Casino 2007 - 2015
Revenues
Net Opera-ng Result

4. Holland Casino - revenues
• Revenues 2015: € 576,2m (ebitda € 104,7)
• Opera-ng profit: € 67,3m Gaming tax: € 153m
• Income state 2015: € 220,3m - € 40m = € 180,3m
Future income state would be:
with 25% corporate tax € 16,8m + € 153m = € 169,8m
difference: - € 50,5m (uncorrected) / - € 10,5m (corrected)
easyplaytime.com

5. Holland Casino - priva1za1on
• 2012: government decision to sell HC (not a core business)
• 2014: policy vision “renova-on of the casino regime”
• 2016: Parliament and Senate
• Late 2017: start priva-za-on à evalua-on casino law within 7 years
• HC will be turned into a Limited Company (shares owned by State) with 4 subsidiaries
• 2 new licenses will issued, making a total of 16 licenses
• HC will be sold as a cluster of 10 licenses/casinos, including the brand name (and online
license?) à auc-on
• HC expected having to give up one casino in 4 of the 5 regions
• 4 + 2 licenses will be sold independently, possibly excepted from auc-on process
• HC board of 10 casinos not involved in selec-on process
• Next lefer from Wiebes to Parliament will disclose more details (e.g. 4 casinos)
• New situa-on: 2 – 7 licensees (more likely 4 according to SIRA consul-ng)
• Licenses valid for 15 years (Engelmann/ECJ Sept.2010 and EU Direc-ve award of concession
contracts into force per 18.4.2016)
easyplaytime.com

6. easyplay-me.com
Casino regions
source: lefer State Secretary Wiebes to Parliament (11 May 2016)
2 licenses
3 licenses
3 licenses
4 licenses
4 licenses

7. Priva1za1on process – some of the issues
• Which 10 casinos included in HC cluster à which 4 separate
• Before final sale à decision from ACM about undesired market dominance
• What physical assets are being acquired by cluster and 4+2
• How are costs divided (incl. carve out costs for both HC and HC Pension Fund)
• How will common/shared infrastructure be shared/sold/priva-zed among mul-ple acquirers
• What happens to 1m+ data base, which was built up over 14 casinos
• Control of personnel costs à too high
• What are the required qualifica-ons of candidates
• What level of informa-on through (2-stage) RFP process
(first short list of qualified bidders, who get detailed RFP)
• Valua-on factors for cluster of 10 and 4+2 licenses
• What -metable can we expect …..
Determining the range of desired outcomes prior to embarking on a RFP process, together with a
clear understanding of what changes may and may not be permifed, is central to an efficient
priva-za-on.
easyplaytime.com

8. Thank you for your a,en.on.
easyplaytime.com