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Land Casino's thousands lose their jobs
US unemployment statistics climbed to a 15 year high in November, with the travel and entertainment sectors taking a major beating due to lay-offs, Associated Press reported this week.
Workers at hotels and casino resorts have taken some of the biggest losses, with the accommodation industry shedding 36 600 jobs in November, while the amusements, gambling and recreation sector laid off 13 100 workers, the Department of Labour reported, part of the 533 000 total jobs cut in November that pushed the U.S. unemployment rate to a depressing 6.7 percent.
The travel and gambling sectors have been particularly hard hit by the recession, as consumers have cut back sharply on discretionary spending.
Some of the most visible layoffs have come from the casino industry, where large land gambling complexes have cut jobs on a big scale. In early November, the Borgata Hotel Casino and Spa in Atlantic City laid off 400 workers to cope with the economic downturn. Later in the month, the Little River Casino Resort in Manistee, Michegan cut 100 employees. Also last month, the Mountaineer Casino, Racetrack & Resort in West Virginia cut 93 jobs, mainly maintenance workers and carpenters.
In some communities, casinos are a major employer. "These complexes employ thousands and thousands of workers," American Gaming Association President and Chief Executive Frank J. Fahrenkopf told the Associated Press reporter. "And those thousands of workers buy cars, buy washing machines. So it's a major negative impact on the communities where we do business when we have to cut back."
The bad news seems set to continue into December, AP speculates, citing plans this week by Black Gaming to suspend casino operations at the Oasis Resort Casino Golf & Spa in Mesquite, Nevada, and lay off 500 workers. Seneca Indian Nation's casinos in Niagara Falls, Buffalo and Salamanca also cut more than 200 jobs this week.
Overall gaming revenue dropped 4.6 percent nationwide in the third quarter. And the fourth quarter has been particularly difficult for the hotel industry, as consumers and businesses have cut back even more sharply on travel spending. During October, occupancy for the U.S. hotel industry dropped 6.5 percent compared to the same month a year earlier. Last Friday, Fitch Ratings lowered its outlook on three major hotel companies, saying the fourth-quarter declines have dimmed its forecast for the sector.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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