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GIBRALTAR STAFF CUTS IN PROSPECT AT PARTY GAMING

The next few months are likely to be an anxious time for Party Gaming's estimated 320 staffers based in Gibraltar, according to reports on the Calida Gaming blog and the Gibraltar Chronicle, which reported this week that the online gambling group is to begin a staff redundancy program soon.
 
Some reports suggest that as much as a third of the personnel employed by the company will be let go in the next few months as part of a global strategy necessitated by tough competition from rivals that take US business in particular. Party Gaming reversed out of the US market on the passage of the UIGEA in October 2006, and despite some success in rebuilding its business by diversifying into the Asian and European markets, still feels the pressure of competitors who risked remaining active in the US market.
 
Party's communications director John Shepherd confirmed that there was a redundancy plan and told staff last Wednesday that the company would conduct a sixty-day preliminary consultation to see what posts would be at risk. Shepherd commented that the company had been forced into this position by changes in the gaming market, and he complained of unfair competition from US-active companies.
 
Company spokesmen this week emphasised that despite the need for the cuts, Party Gaming remains committed to Gibraltar and may introduce new posts at some future stage.
 
Last week Party Gaming subsidiary Party Poker reported a drop in the number of people playing its poker games over the last two months, prompting downgrades to earnings forecasts. Chief Executive Jim Ryan said the poker business was being adversely impacted by competition from websites which accept players from the United States (see previous InfoPowa reports).
 
“This represents a continuing competitive threat to listed businesses like Party Gaming that immediately stopped customers in the US from playing or making deposits on any of the group’s real money sites following the enactment of the Unlawful Internet Gambling Enforcement Act,” Ryan said.
 
Party Gaming is not the first Gibraltar company to announce staff cuts; earlier this year Victor Chandler International (VCI) announced it would be cutting a total of 30 jobs during 2008. The gaming firm set up shop in Gibraltar in 1999 but has expanded beyond sports betting to offer poker and casino services to its clients worldwide.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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