Delegate to Congress Stacey Plaskett has announced a massive amount of funding for the V.I. Department of Education, monies Ms. Plaskett says her office lobbied tirelessly for.
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According to the congresswoman, the funds are being provided as part of the recent coronavirus relief package passed by Congress and signed into law by President Donald Trump.
Online Bingo Operator Gala Bingo Effected by Redundancies Gala Coral Group announces to staff that it is to cut 45 jobs from its HQ in an exercise to slim-line and integrate both the online and land based marketing divisions. The online division runs GalaBingo.com, the leading UK online bingo provider. Plus, there's Free Bingo every day from 10am to 8pm, and who doesn't love free bingo!? Join now to get £10 of free online bingo plus 50 free spins! If you haven't already, join now with your membership number to get £10 of free online bingo and 50 free spins on Legacy of the Tiger Mega Fire Blaze slot game. The FTSE 100 index of larger companies closed up 1.7% at 6,571.88, while the more UK-focused FTSE 250 rose 0.24%.
Here's Ms. Plaskett's full statement on the funding:
“This $69.7 million in coronavirus relief funding will support efforts to protect the lives and livelihoods of Virgin Islanders. Since the beginning of this pandemic, parents have been counting on federal assistance to help our children and students continue to learn. Our office was hard at work to ensure that the Virgin Islands would receive sufficient funding for those purposes. This funding will be distributed to the Virgin Islands Department of Education and the Governor of the Virgin Islands.
“These funds may be used to help K-12 schools in the Virgin Islands with facility repairs and improvements — including heating, ventilation, and air conditioning systems projects to improve indoor air quality in school facilities as well as to facilitate in-school attendance by students. The aid could also be used to address distance education needs and learning loss among students — including among low-income students, children with disabilities, ESL (English as a Second Language) learners, students experiencing homelessness, and children and youth in foster care.
“This emergency relief amounts to important progress, which must be built on under the Biden-Harris Administration. Next week, Joe Biden enters the White House. It’s my understanding that within the first 100 days additional relief will be a priority and we will make sure the Virgin Islands continues to be included in any package.”
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Gala Bingo Closing
Gala Bingo is the leading land based bingo operator in the UK. However, this didn’t help the group, Gala Coral, avoid closing bingo clubs across the country when the bingo tax rates went up to a whopping 22 percent. It was previously at 15 percent. Ever since the change has been implemented, we’ve seen a couple of bingo closures. But up to now, when the bingo tax rates haven’t been reduced, Gala Bingo continues to close a couple more bingo clubs.
Gala Bingo has to undergo reorganization in their company and this means that they are letting go five more bingo clubs in the country. What this means? There will be 300 more jobs to be lost. The private-equity backed owner of these Gala Bingo clubs, casino operations, as well as the Coral bookmakers has target more than one hundred eighty largely administrative job cuts. These jobs included those of the finance and marketing staff. This is a result of making the support functions run central rather than by divisions. The group has found several redundancies in their structure, making the five operating divisions into three. This will certainly help them cut costs and perhaps be able to save a few bingo clubs in the process. They have estimated their savings to about ten million pounds in a year. However, this will also cost them almost the same figure in upfront costs of the restructuring. But nonetheless, this is one of the actions that they can take to help them slowly pay off their debt of a whopping 2.7 billion pounds, not to mention that they are at risk of breaching bank covenants if they invest cash on their balance sheet. And so they have looked on ways to get this cash without losing their lenders on their side.
As the bingo clubs in Aldridge, Hull St Stephens, Leven, Pitsea, and Port Glasgow, one hundred more jobs will be lost. And it was just a week ago that their Crystal Palace Club was just closed. However, these closures were directly related to the tax hike.
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