Business Mogul Hennie Van Der Most Bankrupt After Rotterdam Amusement Park Collapse

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The failed Rivoli amusement park in Rotterdam, a long-running project of entrepreneur Hennie van der Most, has been sold for €6.5 million in an online auction, marking the end of a 14-year saga that left creditors and the city council frustrated. The buyer, wealthy entrepreneur Wim Beelen—owner of the floating event venue Noah’s Ark—has already faced criticism from Rotterdam’s city council, which has rejected his plans to complete and operate the park until 2030.

The auction, held on April 26, 2026, was the culmination of a legal battle after the Rotterdam District Court declared van der Most’s company bankrupt on April 11. The court ruled that creditors had lost patience with the project, which had already consumed tens of millions of euros in investments. Van der Most, 76, had envisioned Rivoli as a major entertainment hub in Rotterdam-Zuid, but construction stalled repeatedly, and the site—once a former waste incineration plant—remained incomplete.

Beelen’s purchase has reignited debates over the site’s future. The city council, led by Construction Alderman Chantal Zeegers of D66, has made clear it no longer supports an amusement park on the land. Instead, it plans to redevelop the area into an affordable housing district with job opportunities and amenities for Rotterdam-Zuid residents. Zeegers emphasized the potential for high-quality housing with river views and an events venue that reconnects the neighborhood with the Maas.

“It could become a very attractive part of Rotterdam, with great views over the Maas, high-quality housing, and a strong events venue that reconnects residents with the river,” Zeegers said in a statement. She granted Beelen permission to operate the park until 2030, after which the land will revert to the municipality under its leasehold agreement.

Despite the setback, Beelen has announced plans to dock his 120-meter vessel, Noah’s Ark, at the site and proceed with finishing the park. Rivoli currently features operational attractions, including a pirate ship ride, bumper cars, a haunted house, two restaurants, a roller coaster, and a karting track. However, the city council’s motion explicitly states it no longer sees a future for an amusement park at the location.

The bankruptcy filing against van der Most’s company followed years of delays and financial strain. Court documents indicate creditors had grown increasingly frustrated with the stalled project, which had been touted as a flagship development in Rotterdam’s south. The auction’s outcome reflects the broader challenges faced by large-scale entertainment projects in Europe, where funding gaps and regulatory hurdles often derail ambitious visions.

For Beelen, the purchase represents a high-stakes gamble. His previous venture, Noah’s Ark, is a floating events venue that has drawn both praise and controversy for its environmental impact. The Rivoli acquisition could either revive his reputation as an innovative entrepreneur or further entangle him in disputes with local authorities.

The city council’s stance underscores a shifting priority in Rotterdam’s urban development strategy. Rather than pursuing speculative entertainment projects, officials are now focusing on social housing and infrastructure that directly benefits residents. This shift aligns with broader trends in Dutch urban planning, where sustainability and community needs increasingly take precedence over commercial ventures.

What happens next depends on Beelen’s ability to secure financing and navigate regulatory hurdles. If he succeeds, Rivoli could reopen as a hybrid entertainment and events hub. If not, the site may be redeveloped entirely for residential use—a decision that would mark the definitive end of van der Most’s long-cherished dream.