Party Gaming CEO Quits
6th March, 2008
Party Gaming recently revealed a $6.7million profit, compared to a $77.4milliion loss the year before. Party Gaming, the parent company of Party Poker, Party Bingo and Party Casino, was highly affected by the crackdown on Internet gambling in America, following the introduction of the Unlawful Internet Gambling Enforcement Act 2006. The act prevented them from receiving wagers from the US, which in turn hit their revenue, and in turn they had to completely rebuild the business.
Now Party Gaming are back in the money and retaining profit, their CEO, Mitch Garber, has made the decision not to renew his contract, which ends May next year. He plans to return to North America with his family. Party Gaming's chairman, Michael Jackson, commented that he was greatly 'saddened' by the news of his departure.
