Synergy Blue, a leading interactive casino games manufacturer, announced last week that it has enacted layoffs of much of its Las Vegas-based workforce. The layoffs come after nearly a year-long business downturn in the gaming manufacturing sector. The company had hoped to avoid this significant cost-cutting measure but demand for new games amid an unprecedented global pandemic simply has not materialized.
“We spent the past year developing new games and operating with the hope that we’d turn a corner in this pandemic,” said Synergy Blue CEO Amanda Vance. “It has become painfully obvious to us that we face significant expense hurdles the longer we operate at full capacity.
“Unfortunately, like so many other companies in our sector, we were forced to make the painful move of downsizing our operations in an effort to stretch our resources to be able to survive this situation. We’re going to miss our phenomenal team of cutting edge engineers and artists who have built this company and brought us to this significant point in our evolution,” Vance continued. “We’ll retain a core team to maintain current placements in the field as well as forge ahead placing existing inventory and preparing our online gaming launch.”
The company has engaged Innovation Capital LLC to explore strategic alternatives in the coming months while it continues its focus on existing business and develops new strategies to compete in the re-emerging global gaming landscape.