BREAKING NEWS

Dutch state to sell casinos, legalize online gambling

By REUTERS

NOVEMBER 28, 2012 16:37

AMSTERDAM - The Netherlands plans to sell its state-owned casino monopoly and legalize online gambling to open up competition.

The new government, sworn in earlier this month, promised in its coalition agreement to sell Holland Casino and said that online betting and gambling will be legalized.

"It is unclear at this stage if it will be a sale or an initial public offering. The government hasn't decided how the sale will take place," Justin Franssen, a lawyer at VMW Taxand who specializes in the gaming sector, told Reuters.

Holland Casino has 14 venues in the country's larger cities and tourist spots, including Amsterdam and Rotterdam, although they lack the glamor and glitz of Las Vegas or Macau.

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