Sheep Gone Wild

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“Having spent more than two decades in key operating and financial leadership roles at Bally’s, George has been instrumental in developing our business model, asset portfolio and growth strategy,” Reeves said.

“He steps into the interim role supported by an experienced finance organisation and I am confident that our reporting, controls and capital markets work will continue without disruption.”

Bally’s shares plunged 26% on 17 August despite a solid Q2 in which group revenue rose by 20% year-on-year to €792.2 million.

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Alongside gaming, hospitality revenue rose 2.8% to R1.29 billion despite an impact of around R20 million from war-related cancellations.

Sun International highlighted a strong start to its H2, with revenue growth as of 31 August ahead of the company’s guidance range of 6% to 8%.

But in recently months the company has invested heavily, with capex surging from R277 million to R492 million.

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Holland Casino now pays 37.8% of GGR to the state, as per the additional increase in 2026, but with labour tax on top the business pays around 52% before they can look at their base running costs. It is not a small burden by any stretch of the imagination, so it is heartening to see the business doing well despite the tightening tax burden.

With such a significant rise in tax, you would forgive the company for cutting wherever possible, but Petra says they have made it work by maximising efficiency, restructuring, and maintaining their offering so the customer doesn’t notice that anything has changed.

“We feel that people are always interested in gambling and that we are the party who should offer that in a safe way. [Holland Casino] has been careful to maintain that, but of course our costs rose very quickly, so we restructured at our head office. We have also been looking at innovations in offerings, which we are currently also testing, including a further development of the Next Zone. We’ve also introduced the double zero in roulette, which we didn’t have previously in the Netherlands,” the CEO says.