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The Stars Group’s diminishments now hits Malta office

The Stars Group (TSG) which is an online gambling giant is cutting staff at its Malta offices, just days after proclaiming similar layoffs at its Isle of Man headquarters.

Malta-based media outlets stated on Tuesday, that TSG had made redundant “at least 50” members of its Malta-based staff, which is approximately one-sixth of the local office’s total headcount. TSG, the parent company of PokerStars and Sky Bet, opened its Malta office in 2012.

The Stars Group is to make further redundancies in its international PokerStars business after declaring job losses in the company’s Malta office, EGR can reveal. The reports suggested that further contractions may be in the works, alleging rumors that some Malta customer service staffers are due to relocate to Bulgaria. Some of the Malta-based trading teams have reportedly already been relocated to TSG’s Dublin office.

TSG circulated a statement saying the company had

“decided to review some potential changes to certain locations to better align our costs with our global growth strategy.”

TSG insisted that Malta was an important hub for the company and would remain so.

Similar language appeared in TSG’s announcement last week of redundancies at its Isle of Man (IOM) headquarters, which the company said were essential to make sure TSG could “deliver our mid-term growth targets and long-term sustainable growth.”

Around 450 out of a total – some 80 IOM staff have reportedly been told that they could be afflicted by this agreement.

Ever since it released its Q2 earnings report, TSG has been in diminishment mode, which showed “continued disruptions and regulatory headwinds” in some of its key international markets. Said disruptions resulted in the company’s international customer base falling 5% year-on-year, pushing international revenue down 8.1%.

Malta’s government has yet to comment on TSG’s announcement, but the Isle of Man’s Department of Foreign Enterprise said this week that it would

“continue to support [TSG] through their business decisions in the long term, as well as looking to assist any staff who are ultimately affected to support them in finding alternative roles.”

In other Malta gaming news, the Malta Gaming Authority (MGA) declared on Monday that it had called of the gaming license UWin4U Ltd, which operates the UWin4U.com gambling site. The MGA acknowledged the company had been unsuccessful to make the required payments to the regulator, and in this manner the site is no longer certified to carry out gaming operations bearing an MGA seal of conformation.

Source: https://egr.global/intel/news/the-stars-group-cuts-jobs-in-malta-hub/
https://calvinayre.com/2019/09/25/business/the-stars-group-retrenchment-malta-office/

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Seema Waqar

Seema Waqar

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