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PartyGaming IPO On 27 PartyGaming February advertised the preliminary results of the financial year 2005, the most successful for the company. At the same time, PartyGaming also informed about the changes of leadership in society and the future plans in the field of virtual gaming industry.
The year 2005 was very successful for PartyGaming. In Gibraltar registered company advertised a vast increase in profit for the year ending on 31 December. The total income reached almost $ 977.7 million. In 2004 the total income stood at about $ 601.6 million. A huge popularity of poker room Party Poker and the introduction of Blackjack were the main reasons of this financial success mentioned.
The other area in which PartyGaming particularly high performance is achieved, the stock is trading on the well-known stock markets in the world. The success of share trading on the London Stock Exchange all expectations of the Governing Council. The Chairman of the Board Michael Jackson accentuated special achievements in this field, the financial success of the company. “The financial benefits of PartyGaming last year were simply wonderful and they corresponded to the IPO strategy in our society,” Jackson , during his report. “A successful continuation of this process, we also see in 2006. The company launched the party Casino as part of the fully integrated and party-protection mark game platform. The acquisition of Empire Poker, and our advanced skin reinforced our strategy Leadership positions in the field of virtual poker game. ”
Although the Board of PartyGaming particular satisfaction with the performance of the company showed it should be but with great regret the resignation of the Chief Executive Officer (CEO), Richard Segal, advertise. “The IPO and the particular success of PartyGaming depends primarily on the management services of Richard Segal,” said Jackson . “With regret we report on the resignation of Richard. On behalf of our shareholders we would like to thank him for his services and wish him much fun in the future.”
With the IPO development of PartyGaming in 2005, Segal weekly trips to Gibraltar , the headquarters there to supervise. Successful development of the society also influenced the official opinion of PartyGaming that the chief executive constantly on the spot to be. Following discussions with his family, Segal found that his family members not to Gibraltar . Consequently, he has opted for the Board of his resignation as CEO informed.
Segal worked with PartyGaming since 2004 and was a driving force of the company’s management. He advertised his decision with a mixture of pride and sadness. “My time at PartyGaming was characterized by impressive challenges and constant tension. We have the ambitious goal of as much as possible in a short time to achieve. It was very difficult to make this decision because we have our plans successfully implemented,” he said. Segal also stressed the special services of the company. “In a short time, we were able to play goals. I am proud of the achievements and the impressive progress of PartyGaming. We have a very broad way for the further development phases of the company giant.” The Board confirmed the fact that currently for a new leader is looking for.
With these announcements proves PartyGaming a special financial success of the virtual gaming industry. In addition, the company confirmed its firm intention, the Leader positions in this area and strengthened. Although Segals resignation was an unpleasant message, PartyGaming find the best replacement for the impressive success story of the company in 2006.