New directors for Party Gaming

13.12.2007

Still feeling the pinch from its enforced retirement from the US online gambling market following the advent of the Unlawful Internet Gambling Enforcement Act last year, and waiting to hear what the US Department of Justice has to say about its pre-UIGEA activities, Party Gaming brought four new directors aboard this week.

It's a challenging time to be signing up with the online gambling group, which recorded a pre-tax loss of GBP 23.5 million in the six months to the end of June 2007, compared to a profit of GBP 149.1 million in the same [pre-UIGEA] period last year.

UK life peer Lord Moonie, who was previously a House of Commons MP and parliamentary under secretary for state at the Ministry of Defence from 2000 to 2003 has accepted a directorship, as has Stephen Box, who from 1997 to 2002 was the financial director of National Grid.

Two other non-executive directors have been appointed as representatives of the billionaire founders of the once powerful group: John Davy, the representative of shareholders Ruth Parasol and Russell DeLeon, and Emilio Gomez, the representative of shareholder Anurag Dikshit.