The Stars Group Cuts 400 Isle Of Man Jobs

The Stars Group Cuts 400 Isle Of Man Jobs

Lillie Mcguire
Posted on September 25, 2019 at 1:09am

Regulatory disruptions are yet again running amok with revenue income and this time round, it’s The Stars Group bearing the brunt of the negative after-effects thereof. The Canadian brand, who is the global parent to both SkyBet and PokerStars; has announced that due to a significant slow-down in certain key areas of trade, it has no other option but to cut staff numbers at its Isle of Man office. The exact number of staff affected has not yet been confirmed but the figure is expected to be somewhere around 400 positions.

Regulatory disruptions in mainly Russia, Norway and Switzerland are at the heart of the decision to cut costs and embrace extreme and significant optimisation initiatives in an attempt to re-align the online casino and Poker group’s operations with current and projected future market tendencies.

5th Of Group’s Payroll Laid Off

The group has confirmed that its Isle of Man office will remain a hub for global iGaming operations. It insisted that whilst a major staff-cut is by no means ideal, the move is very much necessary and that once the internal process has been finalised, the affected office will be in a position to resume everyday operations without any additional disruptions anticipated for the near future.

The 400 affected staff members represent around one fifth of the group’s global staff payroll. The Toronto-listed group saw its overall Poker revenue fall by at least 11.7% at the close of the second quarter of the current year with the overall situation made worse by a 5% decline in international user numbers.

Norway And Russia Main Culprits

The negative effects of the online gambling regulatory uncertainty and disruptions are made all the worse by significant currency fluctuations. The decline was however rolled into motion by payment-blocking systems in Norway and Russia, and shortly after motioned into full momentum by the group’s forced sudden withdrawal from Switzerland and Slovakia. The Stars Group is also minding its overall dealings with the Netherlands, where it has been called everything short of being referred to as a “cowboy operator”.

Poker has faced its fair share of woes and global opinions regarding whether the game is one of mainly skill or mainly chance remain widely divided. Many regulators have subsequently decided to instead of tackling the decision head-on, embrace the easy way out by avoiding the formulation of proper legalisation and legalisation altogether.


More News

1st WowPot Mega Progressive Slots Jackpot Won

Lillie Mcguire
Posted on April 21, 2021 at 1:04am
1st WowPot Mega Progressive Slots Jackpot Won

An enormously lucky player from the UK on April 14 landed the very first WowPot Mega jackpot in Microgaming’s new WowPot series of progressive s

Single-Game Sports Betting Canada Hopes Realised

Lillie Mcguire
Posted on April 19, 2021 at 1:04am
Single-Game Sports Betting Canada Hopes Realised

Single-game sports betting in Canada is becoming a reality. Online sports betting Canada is seeing its hope for single-game betting approaching realis

Pragmatic Play Boosts Live Dealer Casino Reach

Lillie Mcguire
Posted on April 19, 2021 at 1:04am
Pragmatic Play Boosts Live Dealer Casino Reach

Pragmatic Play, the leading iGaming content provider, has made its complete collection of live dealer casino products available for play on GGPoker. T

New Laws To Change Online Gambling In Canada

Lillie Mcguire
Posted on April 16, 2021 at 3:04am
New Laws To Change Online Gambling In Canada

The question ‘is online gambling legal in Canada’ has been asked on numerous occasions, by locals, and the world at large. It is such a co

Benefits Of Playing At The Best Online Casinos

Lillie Mcguire
Posted on April 16, 2021 at 3:04am
Benefits Of Playing At The Best Online Casinos

It seems as if new online casinos are appearing on an almost daily basis, which is certainly good news for gamblers. But what exactly are the benefits

LeoVegas To Boost Sports Betting Site With Expekt

Lillie Mcguire
Posted on April 15, 2021 at 3:04am
LeoVegas To Boost Sports Betting Site With Expekt

LeoVegas AB has announced further expansion plans as the company strengthens its vision of becoming a leading sports betting site. It has agreed to ac

Microgaming Ink GONG Casino Games Online Deal

Lillie Mcguire
Posted on April 15, 2021 at 2:04am
Microgaming Ink GONG Casino Games Online Deal

Microgaming, the leading casino games online software developer, has reinforced its position as the industry’s leading content aggregator. The l

Canada GP’s Ghost Race In Need Of More Money

Lillie Mcguire
Posted on April 13, 2021 at 11:04am
Canada GP’s Ghost Race In Need Of More Money

The fate of the 2021 Canadian GP hangs in the balance after it was reported that the prospect of a spectator-free ‘ghost race’ for the Mon

Evolution To Acquire Big Time Gaming

Lillie Mcguire
Posted on April 13, 2021 at 11:04am
Evolution To Acquire Big Time Gaming

One of the world’s biggest iGaming giants, Evolution, is set to add yet another significant firm to its collection. The company has entered an a

Sports Betting Regulation Set To Serve Canadians

Lillie Mcguire
Posted on April 12, 2021 at 12:04pm
Sports Betting Regulation Set To Serve Canadians

Now that the passing of the bill set to legalise singe-event sports betting in Canada appears imminent, local gaming bodies and operators are excited