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More lay-offs?

Discussion in 'Casino Industry Discussion' started by jetset, Nov 7, 2006.

    Nov 7, 2006
  1. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    BAD NEWS FROM GIBRALTAR?

    888.com employees receive lay-off notices

    The U.S. Unlawful Internet Gambling Enforcement Act could be claiming up to 150 victims in Gibraltar shortly according to the publication Panorama, which this week reported that up to 150 employees are expected to receive redundancy notices from 888 Holdings.com.

    Gibraltar is the location for 888.com's headquarters and earlier reports suggested that over 100 employees could be laid off as a consequence of reduced business activity following American legislative developments earlier this year.

    The Panorama report included a reference to Party Gaming, which also has offices in the territory, quoting unnamed sources that there may be further job losses in that company. Party Gaming has already announced over 800 job losses at its Ivy Computech subsidiary in Hyderabad, India.

    Neither company has commented yet on the local situation.

    Both Party Gaming and 888.com have featured prominently in media reports sweeping the industry that various parties including Ladbrokes, MGM and Harrah's are currently manouevring on potential merger or acqusition deals.
     
    1 person likes this.

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