Argosy layoffs blamed on Ticket In/Ticket Out

May 6, 2003 5:35 AM

Slot players acceptance of the new Ticket In/Ticket Out technology will result in the first layoffs at the Argosy Casino and Hotel in Lawrenceburg, Ind., since the Argosy Gaming Co. (AGY) opened its riverboat casino in 1996.

The company said some 50 jobs would be eliminated out of the 2,200 jobs that the casino created.

In the announcement, Argosy said, "Because of an industry-wide change in the technology of electronic gaming devices, Argosy is offering voluntary separation in order to slightly reduce its work force in the slots department. As technology advances, slot departments all over the country will require fewer slot attendants."

A company spokesman in Indiana said that the recent tax increases imposed on the Indiana riverboats "have caused the industry to accelerate this change to advanced technological methods of delivering the casino product to our guests."

As part of the workforce reduction plan, Argosy is offering all of its current slot floor employees the option of taking a voluntary separation package that includes one week of pay per year of service calculated at $20 per hour with a minimum of two weeks to be paid; outplacement assistance and benefits to continue until May 30.

Benefiting from the new system, said the Argosy spokesman, are the players "who are tired of lugging buckets of tokens and waiting for attendants to fill machines."