24hPoker Announces Staff Cuts -- After revealing an SEK 11.1 million loss for H1 2007, Swedish operator 24hPoker will institute personnel cuts as part of its "reorganization program," which the company hopes will help it achieve SEK 6 million in annual cost savings. "24hPoker has not been profitable and we have therefore decided to reorganize and make the organization more efficient to take control over our costs," said 24hPoker CEO Per Åström. "To realize personnel cuts is never pleasant to do, but cost control is one of the four cornerstones we build our strategy on." The company, which holds a license in Malta, did not specify as to whether the staff cuts would be effected across both its Swedish and Maltese offices.
Alderney Improves IT Infrastructure -- The Channel Island of Alderney, via its department of e-commerce development, announced the addition of a ITEX-powered data center. "Facilities of this quality are extremely welcome and needed to meet the unprecedented demand for Aldreney eGambling Licenses," said Robin Le Prevost, Alderney's head of e-commerce development.
Coming Soon -- Gaming VC is set to report its interim results tomorrow. The company, which focuses on German-language markets, revealed a full-year operating loss of $40.4 million for 2006.
First in Kind -- Formoapuestos.com.ar, an Argentina-based operator, has launched the first legal online poker room targeting Argentine residents.
Tax Crunch -- Gaming Intelligence Group reports that Spanish tax authorities have opened an investigation into foreign gaming operators that have allegedly failed to pay taxes covered under Spanish law. Spanish lottery operator ONCE has allegedly submitted evidence demonstrating that the unnamed companies have failed to contribute IVA (value added tax) and IRPF (tax on employees). The report did not specify which services and operators were under investigation.
EU Reviews US Compensation Proposal -- The Financial Times reports that European gambling groups are pressing the European Union to reject an American compensation offer for losses suffered when the United States closed its I-gaming market last year. Brussels has been given until Oct. 22 to review the offer, which the paper says includes "opening opportunities in the storage, warehouse services and technical testing sectors." It adds that these concessions are not thought to equate the estimated $4 billion that EU companies are losing.
Stock Watch -- On the LSE, 888 was up 4.50p to 123, Playtech was down 12p to 326 and PartyGaming was up 1.25p to 27.25. In Stockholm, Unibet was down SEK 2.00 to SEK 218.00 while 24hPoker remained even at SEK 0.38.