PARTY GAMING BOSS SHOWS CONFIDENCE

30 November 2007

Garber holds on to share options


The CEO of London listed online gambling group PartyGaming is displaying some confidence in the company, taking options for 3.5 million shares and reversing previous plans to sell some of his existing stock.

Under his planned sale programme, CEO Mitch Garber was to have sold shares between December 19 and 31, but this decision has been deferred. He now holds 8.75 million shares in the firm, more than double the amount he is obliged to hold in terms of his contract, reports the Reuters news agency.

The online gaming group is awaiting a decision from U.S. authorities on its likely punishment for taking bets from U.S. gamblers last year before the Unlawful Internet Gambling Enforcement Act was signed into law last October. Party Gaming immediately withdrew from the United States market when this occurred.

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