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July 11, 2009 Online Casino News: Gala Coral Feels Hit
Some think that the online casino industry is exempt from the problems of the economy, but no industry is able to get through unscathed. Even though they have lower overheads and less employees than most land based casinos, they have their own problems. Some think that if you have both an online casino and a land based one that you have the best of both worlds, but depending on where you stand – if your land based casino is not doing well, your online casino probably won’t be able to support it.
Unfortunately this is pretty much what happened to Gala Coral. The land based and online casino company has had to let people go because they are just not bringing in the revenue that is needed to be able to survive. The United Kingdom group had to let go another 45 staff members this week, and they were none to happy about it.
They had already let go some of their employees before, but they said that in an effort to “streamline and integrate” their land and online casino gambling divisions of their marketing, they needed to let more employees go. The group had just cut about 300 other jobs from their land based bingo hall, as well as closing some of their land based properties.
The land based and online casino company currently has a debt burden of about GBP 2.5 billion. They say that in addition to the new no smoking ban that has been put upon them and the economic times being what they are, they simply cannot survive.
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