| Top > News > 2006 > March > 14 Mar 2006 |
Online Casino Boss Calls it Quits |
| Richard Segal, CEO of the world’s largest online casino poker operator, has confirmed rumors that he intends to quit Party Gaming. The online casino head announced that his last days with the company will conclude at the end of May. Segal declined to relocate with his family to the online casino firm’s headquarters in Gibraltar. Since the company first floated stock on the London Stock Exchange, Segal has commuted weekly from his home in London. However the 42-year-old father of two has decided to “put family first” and turned down the online casino firm’s lucrative relocation package to remain in London. Segal’s decision comes less than a year after the online casino firm’s initial floatation, which earned its shareholders over one billion pounds sterling. Segal will retain shares in the company valued at over ten million pounds but has relinquished future stock options of over 20 million in the online casino company. The CEO originally sold stock worth 10.7 million during Party Gaming’s floatation. While many in the online casino industry state that Segal’s job is one of the most attractive in the industry, according to the company’s chairman, enticing a new chief executive to Gibraltar will not be easy. A number of names prominent in the online casino industry have been mentioned in relation to the position, including Nigel Payne of Sporting Bet. However no decision on Segal’s replacement has been forthcoming. |
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