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Holland Casino's Biggest Strength Is That

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Holland Casino's Biggest Strength Is That CONTENTS ANNUAL REPORT 2016 GOVERNANCE 04 The year 2016 at a glance 68 Composition of the Supervisory Board 05 Key figures 70 Introduction from the Chairman 06 Message from the Chairman of the Board 71 Report of the Supervisory Board 73 Corporate governance ABOUT HOLLAND CASINO 77 Risk management 12 Company profile 14 Mission & strategy FINANCIAL STATEMENTS 16 Business model 84 Financial statements 2016 18 Our environment 130 Other information 25 Value creation 28 Stakeholders ADDITIONAL INFORMATION 33 Materiality matrix 2016 140 Locations casinos 142 Five-year summary 143 About this report REPORT OF THE EXECUTIVE BOARD 144 Glossary of terms 40 Report of the Executive Board 146 Colophon 48 Our guests 56 Our people 62 Our society 65 In control statement CONTENT KEY FIGURES EB REPORT SB REPORT FINANCIAL STATEMENTS THE YEAR 2016 AT A GLANCE KEYFIGURES Amounts in millions of euros, unless stated otherwise STATEMENT OF INCOME €608.3 MLN €81.7 MLN 2016 2015* Revenue before gaming tax 608.3 576.2 Gaming tax 161.9 153.0 RESULT BEFORE TOTAL REVENUE Net revenue 446.4 423.2 CORPORATE INCOME TAX (+5.6%) Operating expenses -363.9 -351.0 (+15.4%) Operating result 82.5 72.2 Financial income and expenses -1.1 -1.7 Share of profit of equity-accounted investees, net of tax 0.3 0.3 Result before corporate income tax 81.7 70.8 Corporate income tax ** -7.6 0.0 Result after corporate income tax 74.1 70.8 1.1 MLN 5.9 MLN 2,519 FTES 3.5% Other comprehensive income, net of tax *** 0.0 -0.1 Total comprehensive income for the year 74.1 70.7 NUMBER OF GUESTS NUMBER OF VISITS NUMBER OF ABSENTEEISM Cash flow from operating activities 102.0 101.4 (+1.0%) (+1.7%) EMPLOYEES (-8.9%) (+6.7%) Profit margin (in %) ((result after tax/net revenue) x 100) 16.6 16.7 Visits Number of visits (x 1,000) 5,931 5,832 €103 7.7 28 20,638* Spending per visit in euros 103 99 Employees at year-end SPENDING GUEST SATISFACTION NET PROMOTOR MONITORING (PBK) Number of employees (excluding stand-by employees and trainees) 3,441 3,198 PER VISIT (2015: 7.8) SCORE (NPS) INTERVIEWS Full–time equivalents (FTEs) 2,519 2,360 (+4.0%) (2015: 23) (2015: 17,685) * see note on page 48 to 51 Employee benefits (as a percentage of operating expenses) 57.0 57.4 Net revenue per average FTE (in thousands of euros) 184 183 Balance sheet 420 6,185 €253.0 MLN €305.5 MLN Equity 184.3 110.1 Non-current liabilities 12.6 10.1 GAMING TABLES SLOT MACHINES REVENUE TABLE GAMES REVENUE SLOT Current liabilities 108.6 121.3 (INCL MULTI ROULETTE) MACHINES (+8.4%) (+3.8%) Other key figures Number of gaming tables 420 424 Number of slot machines (in casinos) 6,185 6,011 The key figures are not part of the Holland Casino financial statements. 1 OCTOBER 2016 HOLLAND CASINO CELEBRATES 40TH ANNIVERSARY * The comparable figures for 2015 have been adjusted in accordance with International Financial Reporting Standards (IFRS). ** As per 1 January 2016, Holland Casino is subject to corporate income tax. *** Currency exchange differences on foreign operations of a participation. 4 5 CONTENT KEY FIGURES EB REPORT SB REPORT FINANCIAL STATEMENTS respectively as confirmation of our professional expertise and as These times also require us to make our operations more sustain- the crowning glory on the passion and the professionalism with able. Holland Casino considers its suppliers as partners in which our people do their work every single day. meeting collective goals on the sustainability front. This makes sustainability a chain responsibility. On top of this, we develop new In October, we saw the official kick-off for the 40th anniversary casinos and upgrade our existing casinos as much as possible in of Holland Casino in Zandvoort, where the first Holland Casino line with the latest developments of sustainable building. In the years opened its doors on 1 October 1976. This was a very special ahead, we will devote more attention than ever to sustainability. milestone in the history of our wonderful company, which for 40 years has proudly borne the title of the only real casino in the All these factors have an impact on our organisation and we Netherlands. And it is not just in the Netherlands that Holland have to take that impact into account in the strategic choices Casino has gained an extraordinary reputation in those 40 years; we make today. This means that renewal and innovation of our with our world leading and internationally recognised Responsible products are crucial and are of high priority for us. Standing still is Gaming Policy, we have set the standard for other players in the like going backwards in a market that is changing as much as the gaming industry. At the end of November, we celebrated our casino market. We also need to anticipate future political decisions anniversary with all of our employees and retired employees. that have an impact on Holland Casino and the casino market. These were two wonderful evenings that I still look back on with a great deal of pleasure. In 2014, we successfully realised a turnaround thanks to our new strategy. In 2016, we continued to tighten and shape that strategy. Unfortunately, the year 2016 also had its moments of sadness, with Data analytics play an ever increasing role in this, as does our the tragic loss of our CFO Anita de Kleijn, who died at the age of marketing communications policy, which we have continued to 47 after a brave battle. Anita was always hopeful that she would renew and expand. Our cordial and committed approach to our conquer her illness, but despite her enormous willpower it proved guests, which ensures they enjoy their visits to our casinos, together to be a battle she could not win. Anita was a tremendous asset with our surprising and varied gaming choices, all contributed to to Holland Casino. Thanks to her energy and commitment as CFO the positive results we recorded in 2016. and interim chairman of the board, she laid solid foundations for the stable future of Holland Casino. We are enormously grateful to Our revenue before gaming tax came in at EUR 608.3 million, her for that and I believe it is my task as chairman of the board to a rise of 5.6% compared with the previous year. Pre-tax results make sure that we build on what she achieved and work towards increased by EUR 10.9 million to EUR 81.7 million. And we also saw MESSAGE FROM THE a successful future for Holland Casino. the number of visits increase once again in 2016. The 5.9 million visits we saw last year was a 1.7% increase on the previous year. CHAIRMAN OF THE BOARD The world around us is changing rapidly. To maintain and strength- The average amount of money spent per visit was also higher at en our position it is important for us to anticipate and prepare EUR 103. for the impact of various political, economic and market-related Holland Casino recorded a solid result in 2016. But that is no reason I would very much like to share a number of wonderful moments develop ments. Our society is digitalising and the casino market is Guest satisfaction remained high last year and came in at 7.7 for us to rest on our laurels: substantial changes in the gaming from 2016 with you. In May, our casino in Breda served as the set to be reformed in the near future. (previous year 7.8). Due to the fact that we were even stricter market mean we have to prepare for the challenges we will stage for the 10th edition of the European Dealer Champion- in terms of enforcing our Responsible Gaming Policy (Preventie face in the future. In this annual report, we present an operating ship (EDC), the first time these championships had been held in A large part of our professionalism lies with our loyal employees, Beleid Kansspelen – PKB), the number of monitoring interviews result that shows that we are on the right path. Our guests are our the Netherlands. Holland Casino teamed up with the European many of whom have been with us for decades. At the same time, increased in 2016. Absenteeism continued to decline last year main priority in everything we do and our guests appreciate that. Casino Association to organise this prestigious event, which every we have to make sure we have a diverse workforce and modern and came in at 3.5%, compared with what was already a historic Our increased focus on offering our guests the highest possible year sees croupiers from around Europe compete for the title of terms of employment so we can continue to meet high quality low of 3.8% in 2015. This is a sign that our employees are fitter than quality of services and products enable us and our employees to European Dealer of the year. I see the fact that our own croupiers standards in the future and safeguard the continuity of the ever. All in all, these are figures we can be very proud of. Now we surprise them each and every day. Ray de Rozario and Ted Bakker emerged as winner and runner-up company for its stakeholders. have to work together to ensure that we can continue this positive trend. Not just in 2017, but also in all the years that follow. 6 7 CONTENT KEY FIGURES EB REPORT SB REPORT FINANCIAL STATEMENTS We will continue to invest in sustainable solutions, efficiency and located in a completely new multi-functional complex and innovation in terms of products, markets and target groups.
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