Full Tilt Poker subsidiary Pocket Kings is eliminating 180 jobs in Dublin following the suspension of its license in June and the revoking of the license in September by the Alderney Gambling Control Commission.
he company’s licence was revoked after the US Department of Justice filed bank fraud and money laundering charges against them in April, reports The Irish Times.
Staff at Pocket Kings were notified starting last Wednesday of the lay-offs. Employees who have been laid off told The Irish Times that they have been offered statutory redundancy, and that the reason cited for the elimination of their jobs was that Pocket King was restructuring as a result of the loss of US and European revenues.
Bill Frist, the downfall of online poker and jobs being lost in Dublin and the rest of the World.
Irish ‘Ponzi Scheme’ Full Tilt poker website’s license revoked
Matters became more complicated when US attorney Preet Bharara alleged last month that Full Tilt used $440 million (€317 million) in players’ funds to pay owners and directors. US authorities believe that online gambling violates some federal laws.
The Irish Times reports that Pocket King’s management told workers in September that the company would be seeking up to 250 redundancies from its Dublin base, and a four-week consultation period has passed since then, resulting in the loss of 180 jobs.
The Dublin firm provides software, information technology, management, and customer support services for Full Tilt Poker. The Department of Enterprise said to The Irish Times that Pocket Kings was not backed by State agencies and that its agencies had not received any information about redundancies at the firm.