HollandCasino-history

•  1974:Founda-onof“Na-onaleS-ch-ngtotExploita-evanCasinospeleninNederland”(laterrenamed:HollandCasino)

•  1975:HCawardedthemonopolytooperatecasinosinNLHCisacrowncorpora-on(MinistryofFinance/MinistryofSecurity&Jus-ce)

•  February1976:starttrainingofthefirstclassofDutchdealers•  1October1976:Openingofthe1stHollandCasinointhesea

siteresortofZandvoort(40years)•  From1976-ll2006:Openingof14HollandCasinosacrossNL•  Innova-ve,progressive,leadingcasinocompany,AAA-brand•  HollandCasinoInterna-onal(-ll2004)•  1991:StartoftheMasterClassicsofPoker(25years)

easyplaytime.com

HollandCasino-loca1ons

easyplaytime.com

easyplaytime.com

756,7

700,1

595,6

546,3 557,1540,5

503,5521,2

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

RevenuesHollandCasino2007-2015

Revenues

NetOpera-ngResult

HollandCasino-revenues

•  Revenues2015:€576,2m(ebitda€104,7)

•  Opera-ngprofit:€67,3mGamingtax:€153m

•  Incomestate2015:€220,3m-€40m= €180,3mFutureincomestatewouldbe:with25%corporatetax€16,8m+€153m= €169,8mdifference:-€50,5m(uncorrected)/-€10,5m(corrected)

easyplaytime.com

HollandCasino-priva1za1on

•  2012: governmentdecisiontosellHC(notacorebusiness)•  2014: policyvision“renova-onofthecasinoregime”•  2016: ParliamentandSenate•  Late2017: startpriva-za-onàevalua-oncasinolawwithin7years•  HCwillbeturnedintoaLimitedCompany(sharesownedbyState)with4subsidiaries•  2newlicenseswillissued,makingatotalof16licenses•  HCwillbesoldasaclusterof10licenses/casinos,includingthebrandname(andonline

license?)àauc-on•  HCexpectedhavingtogiveuponecasinoin4ofthe5regions•  4+2licenseswillbesoldindependently,possiblyexceptedfromauc-onprocess•  HCboardof10casinosnotinvolvedinselec-onprocess•  NextleferfromWiebestoParliamentwilldisclosemoredetails(e.g.4casinos)•  Newsitua-on:2–7licensees(morelikely4accordingtoSIRAconsul-ng)•  Licensesvalidfor15years(Engelmann/ECJSept.2010andEUDirec-veawardofconcession

contractsintoforceper18.4.2016)

easyplaytime.com

easyplay-me.com

Casinoregionssource:lef

erStateSecretaryWiebestoParliam

ent(11May2016)

2licenses

3licenses

3licenses

4licenses

4licenses

Priva1za1onprocess–someoftheissues•  Which10casinosincludedinHCclusteràwhich4separate•  BeforefinalsaleàdecisionfromACMaboutundesiredmarketdominance•  Whatphysicalassetsarebeingacquiredbyclusterand4+2•  Howarecostsdivided(incl.carveoutcostsforbothHCandHCPensionFund)•  Howwillcommon/sharedinfrastructurebeshared/sold/priva-zedamongmul-pleacquirers•  Whathappensto1m+database,whichwasbuiltupover14casinos•  Controlofpersonnelcostsàtoohigh•  Whataretherequiredqualifica-onsofcandidates•  Whatlevelofinforma-onthrough(2-stage)RFPprocess

(firstshortlistofqualifiedbidders,whogetdetailedRFP)•  Valua-onfactorsforclusterof10and4+2licenses•  What-metablecanweexpect…..

DeterminingtherangeofdesiredoutcomespriortoembarkingonaRFPprocess,togetherwithaclearunderstandingofwhatchangesmayandmaynotbepermifed,iscentraltoanefficientpriva-za-on.

easyplaytime.com

Thankyouforyoura,en.on.

easyplaytime.com