The Dutch government has canceled its plans to privatize the Holland Casino. The casino is owned and operated by the state. While the government had plans to privatize the casino, the Senate has voted against the plan.
The government could not get the necessary support in the Dutch Senate on Friday. Earlier in February this year, the Senate had favored a move to provide licenses to other online casino and gambling operators in the country. However, they had clarified that this change would take time before it comes into effect.
There are also concerns amongst the senators about privatization. Many believe that allowing private gambling and online casino operators would lead to increased gambling addiction in the country.
Lawmakers are also concerned about the way the government would enable privatization in the gambling industry.
The draft legislation was approved by the lawmakers two years ago. The initial plan called for selling 10 of the 14 branches. Provision for creating two new licenses was also there. The new permits would allow new players to enter the country’s gambling industry.
Earlier in March, the Dutch gambling regulator, the Netherlands’ Kansspelautoriteit (KSA) had announced an increase in the starting financial penalty for illegal online gambling from €150k and will go up to €200k.
Following the warning, in the April it slapped a penalty of €310,000 ($348,500) on Casumo an online casino and gambling operator. Casumo was fined for offering gambling and casino access to Netherlands citizens.