Following news that Malta's largest gaming company, Betsson, has decided to restructure and streamline the organisation, reducing its headcount across the group by 160 employees, Government rushed to reassure Betsson employees that “any redundancies in Malta will be immediately absorbed by other operators in the industry.”
“The gaming industry has registered a double-digit growth of 11.6 per cent last year and is expected to maintain this level of growth in the coming years especially once the new gaming regime is enacted later this year,” said Parliamentary Secretary Silvio Schembri.
“The industry employs more than 9,000 people and today we are in a situation where any redundancies in Malta will be immediately absorbed by other operators in the industry when taking into account the hundreds of vacancies available within the gaming industry. I would like to take this opportunity to thank Bettson AG for their trust in the Maltese jurisdiction and wish them well for their future business plans.”
Betsson will be reducing its staff complement across the group by 160 employees, 130 of whom are from Malta, and 48 of whom are Maltese nationals.
“In cooperation with the operational management team, we have started to implement actions to improve operations. The restructured organisation will be more streamlined with clearer responsibilities, which I believe will improve its efficiency over time," said CEO Betsson AB Pontus Lindwall."
The changes will be implemented in January 2018 and costs related to the restructuring will be recognised in the interim report for the first quarter 2018. The cost saving of the changes is estimated to SEK 50-60 million (€5-6 million) annually.
Bettson AG was one of the first companies to be licensed in Malta back in 2004. It now employs more than 1,900 employees in 12 different locations, manages more than 20 brands, and is listed on the NASDAQ Stockholm Large Cap List.