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PartyGaming CEO Shows Faith in Company - 11-27-07 |
November 27 - To the relief of its shareholders and as a clear and positive
message to the online gambling industry, Mitch Garber, chief executive officer
of PartyGaming Plc, one of the largest online gambling operations in the world,
has opted not to sell a large chunk of his stock.
PartyGaming's press office announced yesterday (Monday, November 26th 2007) that
Garber had decided not so sell of a major percentage of his stock but instead
decided to take options for 3.5 million shares, showing his commitment to the
future success of PartyGaming.
Garber has steered the LSE-listed online gambling giant through many obstacles
and troubled waters during the last few years, especially with regards to
negotiating the far-reaching financial and legal implications of the United
States online gambling ban passed at the end of 2006.
Currently, Garber owns 8.75 million shares in PartyGaming, over double the
number of shares the chief executive is required to hold as per his contract.
According to his 'planned sale program', Garber was previously aiming at selling
off a chunk of his shares between December 19th and 31st this year.
As a result of the announcement, PartyGaming shares increased by 2 percent by
12:55 London time yesterday. The online gambling powerhouse owns and operates a range of successful gambling websites including PartyPoker.com, the world's largest online poker room.
Visit
PartyPoker.com today.
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