PartyGaming boss cancels shares sale

PartyGaming chief executive, Mitch Garber, has taken options for 3.5 million shares and cancelled a planned sale of shares that were expected to happen before the end of the year.

Under an agreement reached with the PartyGaming board back in March of this year Garber must retain a holding of at least 3.5 million shares. In June he sold over 4.3 million shares and in September he sold 5 million shares. He currently holds 8.75 million shares in the company – more than double the amount he is required to under the terms of his contract.

Meanwhile, PartyGaming, the world’s biggest online gaming company, are still waiting on a decision from U.S authorities relating to their activities in the United States before the introduction of the Unlawful Internet Gambling Enforcement Act (UIGEA) in October 2006.

Editor, - 2007-11-27 10:55:23

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