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Finnish Changes Bad for Employees

The Finnish government has altered the land and online casino gambling laws in the country and these new changes are going to have a pretty negative effect on the employment status of at least 80 of the company’s more than 17,000 employees. The land and online casino slots market has really changed in the past several years and the state-run gambling monopoly, RAY, has no choice but to cut down the work force to account for the legislative changes that are taking effect this Autumn in Finland. The first of the changes start this month and will severely impact the revenue that the RAY, the Finnish Slot Machine Association, is able to bring in through the previously lucrative state slots market.

The gambling industry is rapidly moving toward new technologies like the online casinos and yet the Finnish government continues to put strong restrictions and taxes in place that make profitability much harder for even the state-run gaming site. According to RAY some of the key reasons for the planned 80 job cuts stem from not only the increase in taxes on gaming revenue that will take place in early 2011, but also changes to the minimum betting age in Finland (moving up to 18) and restrictions on marketing for the land and online casino slots gaming action.

The changes and layoffs are expected over the next several months and although more than 300 RAY employees will be affected by the job cutbacks the new Finnish land and online casino gambling legislation will only really force about 80 full job losses in the company if predictions remain on par.