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Cost Cutting at Gala

Gala Coral isn’t doing very well as the global economy slows. The land and online casino gambling group has encountered some very real problems over the past year. And while Gala is the online casino gambling group to indicate some losses, Gala’s losses are substantial and there are some in the industry skeptical of whether or not the company can come back from the more than GBP 4.2 billion in debt. Some analysts and those at other online casinos are really concerned with the fact that Gala continued to run at a deficit over the past year despite the fact that private investors have pumped additional funds into the company.

Some parts of the online casino gambling industry have been hit harder than others, but at the same time, there are several internet gambling companies that have announced quarter on quarter profits this year despite the pending global recession. The real problem for Gala is that company is pumping additional monies into its online casinos and internet bingo brands but still seeing a slowing of business. Despite the added attention, the Gala sites are not showing impressive gains in profits or new players.

Recently published figures indicate that Gala Coral’s yearly pretax losses come in at 397 million. Some of those losses though are less associated with losses at the online casinos and more so because Gala has closed down 10 percent of its internet gambling and bingo business – everything from extra services to some of the company’s employees. Many in the industry speculate that the land and online casino gambling group will have to layoff even more employees if it plans to remain in business.