Shakeup At PartyGaming

Filed in archive Internet Poker on February 28, 2006

According to Reuters PartyGaming's CEO Richard Segal is stepping down, apparently over location. Segal declined to move from London to Party's home base in Gibraltar at the request of PartyGaming's directors citing strong family ties.

This comes after a year in which PartyGaming increased revenues by 63%, from $602 million to $978 million. Their rake from poker operations averaged more than $3 million per day. Shares jumped 3% on the news.