Dutch gambling monopoly Holland Casino has announced that Dick Flink has resigned as its Chairman after nearly six years following the firm’s posting of disappointing financial results for 2012.
Despite undergoing an extensive restructuring and modernization programme that has seen the land-based operator prepare to launch online, Holland Casino posted a net loss of €652,000 ($858,463) for 2012 due to falling visitor numbers and reduced player spend.
“For six years, Dick Flink has energetically led our organization through particularly challenging times,” said Ath Schouwenaar, Supervisory Board Chairman for Holland Casino.
“The casino concept is revitalized, a large number of branches have been rebuilt and modernized and preparations for an online casino have been started. Simultaneously, a comprehensive reform programme has been sorted.
“The latest results show, however, that we need profound and structural reforms and Dick feels that his governance profile does not correspond to these needs. The decision was therefore taken that he retires and that we look for a new Chief Executive Officer who will head the necessary reforms at Holland Casino.
“The Supervisory Board would like to thank Dick Flink for his ambition, inspiration and for all that he has put into his leadership in recent challenging and difficult years.”
For his part, Flink stated that his strength lies in ‘the development and realization of new concepts and formulas’ and that recent years have seen Holland Casino under pressure from ‘economic and market conditions’. With the prospect of further radical reforms looming in the future, Flink subsequently declared that his value would be better utilized elsewhere.
Holland Casino is the legal monopoly on gambling in the Netherlands. It has 14 casinos located throughout the region. Profits from Holland Casino go directly to the Dutch treasury. The first branch opened in 1976. Some of the other land based branches include Amsterdam, Utrecht, Breda, Eindhoven, Valkenburg, Enschede, Venlo, Schiphol, Rotterdam, Leeuwarden, Groningen, Nijmegen, and Scheveningen. Dick Flint is a name which has become synonymous with the casinos and this will be quite a change. Many are sad to see him go and others are just wondering how this is all going to play out.