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One Hundred Jobs Lost in Online Gambling Sector

March 28, 2009 - One Hundred Jobs Lost in Online Gambling Sector

Gibraltar Panarama has reported that the employment market is very tough at the moment in Gibraltar. The newspaper also reports that the major gambling industry companies in Gibraltar have found it necessary to retrench one hundred employees to date. Party Gaming and Mansion group are among the groups who have, unfortunately, had to reduce their staff.

The retrenchments were not unexpected as there were reports as long ago as September last year that Party Gaming was contemplating retrenching many of their staff. Whereas they had a workforce of three hundred and seventeen last August, it has now been reduced to two hundred and twenty seven.

Mansion have also reduced its employee roster from one hundred and forty nine to ninety three, despite the fact that tried to avoid retrenchments by balancing it with the hiring of more sales and marketing specialists.

Panarama also reports that Victor Chandler, 32Red, Bwin as well as 888.com, all of which are Gibraltar companies, are also spiralling downwards as far as jobs are concerned while the online casino group Carmen Media has also reduced its staff to almost half.

Taking all the above redundancies into account, the newspaper has come to the conclusion that the number of Gibraltians employed in online gambling has been reduced from three hundred and sixty in October 2007 to two hundred and eighty four in August 2008. This figure has dropped even further and now stands at two hundred and sixty one. According to these calculations, there has been a loss of one hundred jobs over that period.

Stan James Group has, however, been lucky enough to have been able to increase its amount of employees.

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