More Cuts at Gtech -- According to the Providence Journal, Lottomatica subsidiary Gtech has laid off 47 employees at its Rhode Island offices; in all, Lottomatica will cut 125 employees across its global operations, Gtech spokesman Robert Vincent told the paper. "We have taken some personnel actions that are a routine realignment of investments we are making in certain areas," Vincent said. "We are finishing up the integration with Lottomatica." In August 2006, Lottomatica purchased Gtech for $4.8 billion, and last December cut 200 employees, 70 in Rhode Island. The latest round of layoffs comes nine days before the release of the Milan-listed group's third quarter results. Its share price, the paper said, took a bludgeoning in September on speculation that it planned to cut its earnings target for the final three months of the fiscal year.
Coming Soon -- Taiwan-based GigaMedia will release its third-quarter results on Nov. 14. Last month, shares in the group hit a multi-year high after Bear Stearns Analyst James Rhee gave an "outperform" rating. Rhee said GigaMedia has transformed from a struggling broadband company to an online entertainment provider with reach both in Asia and Europe, adding that company revenue is rising "at a healthy clip."
Launched -- Orbis has launched its latest offering, "package 9," featuring OpenBet Casino and OpenBet Fixed Odds games. "Content delivery is an important part of Orbis's business strategy over the next few years and we understand it is important to continue to deliver fresh, unique and compelling games content to our customers," said Orbis Sales and Marketing VP Jeremy Thompson-Hill.
Sold -- London Capital Group announced Wednesday that its chief executive, Frank Chapman, sold 740,000 shares at 380p per share, cutting his stake in the company to 5.5 million shares to 14.4 percent. Chief Operating Officer Simon Denham also sold 500,000 shares, the company said, and now holds 6.64 million shares, or 17.34 percent, in the London-listed spread betting specialist. Rachel Woodford, the group's sales and marketing director, likewise sold 500,000 shares, leaving her an 8.67 percent stake in the company.
New Payment Option -- Online casino group Jackpot Factory will offer Postepay, a prepaid rechargeable Visa Electron card, as a payment option for its Italy-based customers. "This is a real breakthrough because it will truly enhance the overall experience for our Italian players," said Jackpot spokesman David Brickman. "We worked very hard to implement this new payment option for All Slots, and we are sure that Italian players are going to enjoy our efforts."
Added -- Mansion has added over 50 of Playtech's Flash-based, non-downloadable casino games. "The launch of Flash games will allow our members to play their favorite casino games instantly wherever in the world they are," said Mansion Chief Executive Guy Gussarsky.
Stock Watch -- On the LSE, London Capital Group was up 3p to 385.50, Rank was down 5.50p to 97.00 and 32Red was down 2.50p to 36.00. In Stockholm, Unibet was up SEK 0.50 to SEK 205.50.