MORE INDUSTRY LAY-OFFS

20 April 2007

Media company lets 28 employees go

The Eye On Gambling information portal and forum reports that Sports Direct, parent company for the popular information site Covers.com has had to lay off 28 staffers, including handicapping division head Shaun Torrey and the highly respected sports analyst Stephen Nover. Several writers were among those retrenched in cuts across various departments.

The downsizing is sadly a first for Covers.com, which has served the industry and the public for 11 years. EOG emphasised that the lay-offs were a reflection of the industry and had nothing to do with individual performances, but reported that no comment has yet been made by Covers.com management.

Late last year, and earlier this year several online gambling companies carried out job cuts in the wake of the Unlawful Internet Gambling Entertainment Act in the USA. Major industry firms like Party Gaming and 888.com were forced to trim staff levels following the drop in US business caused by the Act, which seeks to disrupt cash transactions between players and online gambling sites. Following the passage of the Act a number of high profile and publicly listed companies exited the US market.

EOG's forum carried a lively discussion on the Covers.com news, with posters speculating that the US online sports betting market may have shrunk by anything from 30 percent to 80 percent due to the financial hassle factor introduced by the UIGEA.

Rob Begg, the VP Marketing at Sports Direct confirmed the report, saying: "Yes, that is correct. 28 jobs were cut on Monday, April 16th. SportsDirect now has 122 employees."

Online Casino News courtesy of InfoPowa

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