International edition
September 19, 2020

Mitchell Garber to leave once his contract runs out next year

PartyGaming CEO to step down

(UK).- Online poker and betting firm PartyGaming said on Wednesday its CEO Mitchell Garber was to leave when his contract runs out next year and that talks with US authorities were nearing a conclusion. It added that current trading had seen lower-than-expected growth in revenues although underlying earnings were in line with its expectations.

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artyGaming, which runs the PartyPoker and PartyBets Web sites, said it was still uncertain about the outcome of its talks with US authorities but said a conclusion was possible in the "foreseeable future".

With rivals 888 and Sportingbet, PartyGaming is talking to the US Department of Justice in a bid to avoid prosecution for accepting US Internet wagers in the past.

As well as removing the legal threat, a deal could ease the worries of banks who are refusing to lend to companies like PartyGaming as they are worried that US authorities may take a dim view of it.

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