Evolution Gaming Closes Its Georgia Studio
Live casino specialist Evolution Gaming has announced the temporary closure of its Georgia-based live studio. The brand made the announcement earlier on this week and informed shareholders of its proposed plans to cover future shortfalls as a result of the temporary Georgia closure by re-distributing income generated by some of the company’s other studios.
The temporary closure of the studio, which is situated in the capital of Tbilisi, was ordered as such by the Georgian government. Government has since the outbreak of the Coronavirus, announced various precautionary measures in an attempt to slow the spread of the pandemic. The majority of businesses were ordered to temporarily close their doors and halt all commercial activities. Only those companies offering essential services are permitted to remain open.
Evolution A Major Employer
Evolution Gaming owns and operates various live casino studios in various countries and employs some 6,000 permanent employees across the board. Its studios are situated in the U.S., Malta, Canada, Estonia, Spain, Romania, Belgium, Latvia, Georgia, Sweden and the U.K.
All of its live casino games are broadcast from these studios and even though its studios are in the business of online gaming, employees are still required to engage with one another in close physical proximity, which is of course a major problem right now given the rapid spread of the Coronavirus.
Holding Up For The Moment
But Georgia isn’t the only country causing a major Covid-19 headache right now. The company is fighting an uphill battle trying to keep its Latvia studio strong and going. Evolution Gaming was recently ordered to shut down its Latvia studio by the relevant health and government authorities. The issue with this particular studio is that its Evolution Gaming’s main studio and its central hub for all business administration activities. Even a temporary shutdown, especially for a protracted period of time, could prove disastrous to the value of the company’s shares, let alone its income and overall sustainability.
Evolution has in the meantime assured its shareholders and investors that it is doing all that it can to re-align its day-to-day business in such a way that it is able to continue broadcasting live casino games to online operators in a way that will avoid breaching social distancing guidelines among its employees.
The provider has not yet announced any lay-off processes, temporary or otherwise, which is viewed as a definite positive in the greater scheme of things. The company’s shares are currently still holding up, and the hope is that the pandemic will pass before this changes.