NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB

RE:RE:RE:NYX is looking for 50+ employees

[stocksnbonds]

Wow, very very surprising. 

Just when costs were finally starting to be reigned in, now the hiring of 100 people  for a new sportsbook??

As I mentioned in November, for every new hire, they should let someone go. 
What happened to all the CRYP/CWH staff when the upgrades had taken place?

I know there's growth to be associated with the new sportsbook platform but when you're only adding marginally to revenues which is what CRYP and CWH did, and millions spent on upgrading and the writing off of goodwill, there's really no excuse.  

This will cause a compression of margins even further. Davey said we'd hit 30% EBITDA margins in Q4. That was a big miss to the street as investors were hoping and expecting 40% margins. I doubt we'll hit the 30% Davey stated unless the revenues far exceed the costs of the added employees on the margin. Time to shut down some centres. There are too many global centres for NYX already. 

Thanks for the link HowdyBob.