CASINO WORLD NEWS Monte Carlo Casino begins cost cutting 2 weeks ago Iwo Bulski Post Views: 54 Monte Carlo Casino operator La Société des Bains de Mer has announced a series of cuts designed to achieve cost savings of around €25m due to the impact of the Covid-19 pandemic. The operator, which also owns 50 per cent of the major French sports betting brand, Betclic Everest, will implement a three-part plan of cuts beginning with voluntary redundancies for staff aged 57 or older and for employees in roles that will not need replacement. That will be followed by a “collective departure plan” focusing on departments that are deemed to be overstaffed or in need of reorganisation to make the company more competitive. The third part of the plan will involve attempts to renegotiate collective bargaining agreements with unions. The company said: “This restructuring work is made particularly necessary because of a chronic deficit in the group’s hotel and restaurant operations and its casino activity, linked in particular to a level of salary costs not in line with the level of turnover generated.” La Société des Bains de Mer reported revenue of €45.1m for the quarter ending June 30, a drop of 74 per cent year-on-year. Gaming revenue was down 84.5 per cent at €9.6m. Source: focusgn.com Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: casino, cutting cost, Monte Carlo Continue Reading Previous Mauritius open for tourism exciting time for land-based casino operatorsNext Zambia Fully opened for tourism – impact on casino gambling More Stories ANGOLA CASINO Top rated land-based casinos in Angola 21 hours ago Peris Wambu CASINO SOUTH AFRICA Celebrating 1 year of NOVOMATIC Linked success at Carnival City 21 hours ago Iwo Bulski WORLD NEWS Another UK survey shows fall in gambling 21 hours ago Szarlot BETTING WORLD NEWS BtoBet finalist for SBC’s “Sportsbook supplier of the year” award 2 days ago Samuel ONLINE WORLD NEWS Playtech is strengthening in Greece with Novibet 3 days ago Szarlot CASINO ONLINE Why Bitcoin or other cryptocurrencies and casinos are great together? 4 days ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.