PokerStars announces possible lost jobs at headquarters (reported Sept 2019)
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Philwalmsley
Enthusiast
Silver Level
Poker 888
Ive also heard 888 are looking at big changes within their head office Isle Of Man too - it’s not just poker stars.
Ive also heard 888 are looking at big changes within their head office Isle Of Man too - it’s not just poker stars.
H
holdem_ninja
Rising Star
Bronze Level
amaya group is the problem
after amaya group got pokerstars they had eliminate all big players after they cutted their bonuses...
so isn't now clear enough why pokerstars is going down?
they want more money by kicking out their best moneymakers... lol
after amaya group got pokerstars they had eliminate all big players after they cutted their bonuses...
so isn't now clear enough why pokerstars is going down?
they want more money by kicking out their best moneymakers... lol
EVA777
Rock Star
Silver Level
The thing is that the development of new digital technologies and artificial intelligence involves the replacement of people! I think we see this result in all areas, not just at PokerStars headquarters on the Isle of Man!
Shells
Moderator
Moderator
So, if you are interested at all in what their balance sheets look like for the year ending 2018 you will find a lot of detail (and information) in this article.
https://www.newswire.ca/news-releas...ovides-2019-full-year-guidance-850257221.html
At the end of 2017, The Stars Group had a net worth of almost $4.7 Billion. (just little tidbits of info here)
James_Harrison
Rock Star
Silver Level
I tried to reply to this in the news section about a week ago Shells but it said i already commented (but i didnt). It also says im logged in as rijckenborg but i have no affiliation to him and i didnt hack his account lol.
Shells
Moderator
Moderator
I tried to reply to this in the news section about a week ago Shells but it said i already commented (but i didnt). It also says im logged in as rijckenborg but i have no affiliation to him and i didnt hack his account lol.
I think I know what you mean. Occasionally when maintenance is going on with the CardsChat site, little glitches occur. If at any time you are commenting and submit the same comment and your name does not show you as having commented, please, please let us know!
You should be able to comment as often as you want on any thread (providing it is on topic) so, that must have been another glitch. If this occurs often, let us know that, too.
James_Harrison
Rock Star
Silver Level
I think I know what you mean. Occasionally when maintenance is going on with the CardsChat site, little glitches occur. If at any time you are commenting and submit the same comment and your name does not show you as having commented, please, please let us know!
You should be able to comment as often as you want on any thread (providing it is on topic) so, that must have been another glitch. If this occurs often, let us know that, too.
yeah, 3 weeks ago it said i couldn't comment and now today it said i was logged into this Rjicken guys account
Different times different dates, and the only 2 times i tried.
Thanks for the reply though, not something thats high up on my worry list
D
DS3
Legend
Loyaler
While none of us here can imagine letting go of staff was necessary, I do think we have overlooked one increasing expense for Poker Stars(and any other potential service providers) – that of reestablishing US operations.
Each time an individual state, or block of states (re) authorizes on-line poker, Poker Stars has to pay a large license fee/s. They will have accrued legal, compliance, infrastructure and admin costs before they realize any return on that investment. Its easy to argue this is the cost of doing business - especially if it is to also engage in the wider field of US sports betting in the longer term.
But, I would bet the CFO and accounting department are looking to shave costs from any area they can as they pay for the outgoing investment and expansion.
Each time an individual state, or block of states (re) authorizes on-line poker, Poker Stars has to pay a large license fee/s. They will have accrued legal, compliance, infrastructure and admin costs before they realize any return on that investment. Its easy to argue this is the cost of doing business - especially if it is to also engage in the wider field of US sports betting in the longer term.
But, I would bet the CFO and accounting department are looking to shave costs from any area they can as they pay for the outgoing investment and expansion.
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James_Harrison
Rock Star
Silver Level
Truth be told this is not the poker boom from the early 2000s. I think casinos can have success and i wish for the success of online poker because i look for tournaments with lots of entrants.. but i dont play on stars lol..
Aremaz95
Legend
Bronze Level
I believe that technology also has a lot to do, right now it has advanced so much that it does not require much personnel to maintain the servers, I think the cuts are due more to technological changes than greed, I think
D
DS3
Legend
Loyaler
Well, one other thing to bear in mind (though not a direct effect on the Isle of Man staffing) is Poker Stars/Stars Group PLC merging with Flutter Entertainment PLC via a stock/share swap valued at $6 billion.
This is the specific move to consolidate and venture into the US sports betting market.
It is going to very interesting to see if they refocus on Poker Stars...I will not be holding my breath because the rich pickings by multiples will be in the growth of sports betting.
This is the specific move to consolidate and venture into the US sports betting market.
It is going to very interesting to see if they refocus on Poker Stars...I will not be holding my breath because the rich pickings by multiples will be in the growth of sports betting.
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fundiver199
Legend
Loyaler
Its pretty clear to me, that Stars has not been interested in poker for a long time. The chest rakeback system is laughably bad, tournament fees are 20% higher than on other sites, their freerolls are a joke, and the vast majority of promotions are related to sports betting and casino games.
The only reasons to still play on Stars is low rake for 2-5NL cash games, multi table SnGs, high volume traffic, and after their 4 table cap actually also cash game quality. When comparing 888 Poker and Stars, players per flop actually tend to be higher on Stars now, which is certainly a turn around from, how it has been for the last decade or more.
D
DS3
Legend
Loyaler
Shells-
To be honest I do not really understand what Flutter PLC/FanDuel get out of this deal. I am not being deliberately obtuse either. I really do not get it. Why couldn't Flutter PLC have proceeded on their own?
I believe Stars Group was valued at considerably less than $6 billion (I'll stand to be corrected), and yes, this was a stock/share swap. But it hard to see why this is of long term benefit to Flutter PLC, other than the fact that Poker Stars is a known entity within the US. That said, the turnover from poker as an industry is dwarfed by that of sports betting with Poker Stars yet to re-engage in a significant manner back in the US.
Perhaps because I am tight aggressive, a nit at times in poker this bleeds into my view of economics but I simply can't identify the EV in this deal! I get the impression it is not a lot more than wanting to give the impression of being something of a titan, giving the impression of having more 'clout'.
To be honest I do not really understand what Flutter PLC/FanDuel get out of this deal. I am not being deliberately obtuse either. I really do not get it. Why couldn't Flutter PLC have proceeded on their own?
I believe Stars Group was valued at considerably less than $6 billion (I'll stand to be corrected), and yes, this was a stock/share swap. But it hard to see why this is of long term benefit to Flutter PLC, other than the fact that Poker Stars is a known entity within the US. That said, the turnover from poker as an industry is dwarfed by that of sports betting with Poker Stars yet to re-engage in a significant manner back in the US.
Perhaps because I am tight aggressive, a nit at times in poker this bleeds into my view of economics but I simply can't identify the EV in this deal! I get the impression it is not a lot more than wanting to give the impression of being something of a titan, giving the impression of having more 'clout'.
Y
YKCaiTLH1314
Rock Star
Silver Level
Who own a Company?
The shareholder, the employee or the client?
Answer is: The client
Who runs a Company?
The shareholder, the employee or the client?
Answer is: The employee
Who benefit from a Company?
The shareholder, the employee or the client?
Answer is: The shareholder
Instead of retrenching the staff they should focus on bringing in more client.
Only bad management retrench employee.
The shareholder, the employee or the client?
Answer is: The client
Who runs a Company?
The shareholder, the employee or the client?
Answer is: The employee
Who benefit from a Company?
The shareholder, the employee or the client?
Answer is: The shareholder
Instead of retrenching the staff they should focus on bringing in more client.
Only bad management retrench employee.
Shells
Moderator
Moderator
If they are merging with anyone, their reasoning is for profitable gain. I don't have numbers to back my thoughts with nor do I have any further information on PokerStars plans to merge, but common sense tells us, they are all about making money and one wrong move (as monumental as a merge) could see everything in the toilet. BUT, in light of the Wire Act having been reversed in the past year in the USA, Stars is likely looking to take over a bigger piece of that proverbial pie, in the form of sports betting..if that makes sense. Maybe the jobs in question were becoming redundant only to be replaced with something else? We will likely never see any information regarding new hires if there are any.
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Shells
Moderator
Moderator
