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Job Losses in the Online Casino Industry

The global recession hasn’t really hit the online casino gambling industry too hard – the internet gambling sites have recorded record profits, new players continue to sign up for accounts and new global markets are on the horizon. With all of this positivism coming out of the online casinos, it’s a bit of a shock to have to announce that hundreds of industry jobs are being cut this week. Interestingly enough, it’s not the company’s profits and revenues that are causing Tipp24 to layoff a huge portion of its workforce – it’s the protectionist legislation that the German government passed at the beginning of the year.

The German government went in direct defiance of negotiations and requests from the European Commission for open and fair online casino gambling legislation. Instead, on January 1, 2009, new legislation took effect that blocked foreign online casinos from the market and protected the German market for competition. The new legislation did not even have a provision to protect gambling companies operating out of the country’ meaning that companies like Tipp24 are forced to relocate their headquarters.

The relocation of Tipp24 to the UK has cost Germany 139 well paying jobs – only 15 employees will remain at the online casino gambling groups Germany office. This drastic reduction in staff comes at a time when the current recession makes job-losses very difficult for the employees and finding new jobs could prove very difficult for the former Tipp24 employees. At this point in time though there is little else that Tipp24 can do – the German government doesn’t seem to have any plan to alter the January legislation, the German Interstate Gambling Treaty.