Gibraltar staff lay off expected

Coming several months are about to be an nervous time for Party Gaming's expected 320 staffers based in Gibraltar, based on reports on the Calida Gaming blog and the Gibraltar Chronicle, which stated this week that the online gambling group is about to start a staff redundancy program soon.
Some reports imply that to the degree that a 3rd of the employees hired by the company are going to be fired in the coming months as part of a worldwide plan required by rough competition from rivals that take US business particularly. Party Gaming reversed out of the US marketplace on the way of the UIGEA in October 2006, and regardless of some success in reestablishing its business through expanding into the Asian and European markets, still has the weight of rivals who risked staying active in the US market.

Party's communications director John Shepherd verified that there was a redundancy plan and explained staff last Wednesday that the company would carry out a sixty-day first-round session to see what posts would be at risk. Shepherd stated that the company had been enforced into this situation by changes in the gaming marketplace, and he criticized of inequitable rivalry from US-active companies.

Company spokesmen this week highlighted that regardless of the necessity for the cuts, Party Gaming stays devoted to Gibraltar and may bring in new posts at some future stage.

Last week Party Gaming affiliated company Party Poker showed a fall in the number of people using its poker games throughout the last 2 months, accelerating reducing to income estimates. Chief Executive Jim Ryan explained the poker business was being unfavorably impacted by rivalry from sites which accept players from the United States.

“This indicates an on going competitive threat to listed businesses such as Party Gaming that straight away stopped clients in the US from playing or making deposits on any of the group’s real money websites after the passing of the Unlawful Internet Gambling Enforcement Act,” Ryan explained.

Party Gaming is not the 1st Gibraltar Company to state staff cuts; previous year Victor Chandler International (VCI) revealed it’s going to be cutting a sum of 30 jobs throughout 2008. The gaming firm set up shop in Gibraltar in 1999 but has increased beyond sports betting to provide poker and casino services to its clients internationally.

Casino News: Gibraltar staff lay off expected

Gibraltar staff lay off expected