Cuts At Swedish Poker Site
by Maria Oliveira, News Staff Writer
September 26, 2007
a bad day for employees of the 24HourPoker online
casino, who discovered recently that their jobs could be
in jeopardy. The popular online gambling hub, which has
drawn scrutiny lately from the Swedish Gambling Board as
part of its ongoing investigations into the world of
internet casinos, announced that it would be
reorganizing its business model to cut costs.
24HourPoker is hoping to save some SEK six million a
year by making the company more efficient – which,
unfortunately, means cutting loose an untold number of
its employees. Obviously, it’s sad news when any
business –not just online casinos- must necessarily shed
employees, but at least one corporate bigwig with
24HourPoker is trying to keep the matter in perspective.
Company CEO Peter Anstrom released a press statement
candidly admitting that the 24HourPoker online casino
has not been profitable lately, and that restructuring
the organization of the online gambling venture was one
way to turn that trend around. Anstrom declared that
eliminating workers is “never easy” to do, but that the
personnel cuts would be necessary if the internet casino
was ever to get back on its feet and start making money.
A full SEK one-point-five million of 24HourPoker’s
planned SEK six million savings will come from the
salaries of those employees being terminated.
The realm of online casinos is a competitive one, and
24HourPoker is certainly not the first internet casino
to have to come to terms with cutbacks in such a
heartbreaking and staggering fashion. Obviously, the
online casino execs with 24HourPoker are hoping that
streamlining the company’s business model and cutting
back on expendable costs –like extra personnel- will
give the business the boost it needs to get its numbers
back in the black, and out of financial trouble.