Online Casino Transfer: News - RAY to Make Job Cuts

08/15/2010		Online Casino Style: News Ray to Make Job Cuts
Home History Games News Dictionary		The online gambling industry is ramping up to enter into their fall season, with internet casino groups taking stock of the profits made and the improvements that need to happen before year end. One such group to have significant concerns about their ability to bounce back from lower revenue rates this year is the state-owned land- and internet casino group most commonly known as RAY, the Finnish Slot Machine Association. The timing is particularly unfortunate, however, with some changes scheduled to take place in regards to the gambling laws this month. The danger of the losses will effect those associated with RAY the most, with a press statement from the organization confirming the rumor that job cuts will likely be the only way for them to stay afloat to compete with the rest of the online gambling market for another year. Currently, about 1,700 individuals work for RAY, with the firm sating that they intend to cut back as many as 80 jobs, though few additional details have become available. In addition to the law changes that will take place in August, RAY has also said that statutory cooperation procedure talks will also commence at that time. Though they are hoping that the job losses will be able to be minimized, as many as 345 workers could potentially be affected, depending on how the numbers crunch. "The growth in slot machines is mainly achieved through developing new technologies, such as internet distribution," read the press statement issued by the state-run online casino. "In addition to the RAY strategy, the need for change is based on the measures taken by the Finnish government and changes in consumer behavior. According to the revised Lottery Act, the marketing of gaming is limited from autumn 2010, and the general age limit for gaming will be increased to 18 years in 2011. In addition, the lottery tax for slot machine and casino gaming operations will be increased from 8.2 percent to 10 per cent in the beginning of 2011."

08/15/2010

Online Casino Style: News
Ray to Make Job Cuts

The online gambling industry is ramping up to enter into their fall season, with internet casino groups taking stock of the profits made and the improvements that need to happen before year end. One such group to have significant concerns about their ability to bounce back from lower revenue rates this year is the state-owned land- and internet casino group most commonly known as RAY, the Finnish Slot Machine Association. The timing is particularly unfortunate, however, with some changes scheduled to take place in regards to the gambling laws this month.

The danger of the losses will effect those associated with RAY the most, with a press statement from the organization confirming the rumor that job cuts will likely be the only way for them to stay afloat to compete with the rest of the online gambling market for another year. Currently, about 1,700 individuals work for RAY, with the firm sating that they intend to cut back as many as 80 jobs, though few additional details have become available.

In addition to the law changes that will take place in August, RAY has also said that statutory cooperation procedure talks will also commence at that time. Though they are hoping that the job losses will be able to be minimized, as many as 345 workers could potentially be affected, depending on how the numbers crunch.

"The growth in slot machines is mainly achieved through developing new technologies, such as internet distribution," read the press statement issued by the state-run online casino. "In addition to the RAY strategy, the need for change is based on the measures taken by the Finnish government and changes in consumer behavior. According to the revised Lottery Act, the marketing of gaming is limited from autumn 2010, and the general age limit for gaming will be increased to 18 years in 2011. In addition, the lottery tax for slot machine and casino gaming operations will be increased from 8.2 percent to 10 per cent in the beginning of 2011."