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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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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

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2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

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