Online gambling group PartyGaming has announced the appointment of four new directors in the wake of reporting pre-tax losses of $47.35 million in the six months to the end of June.
The announced losses compare with profits of $300.48 million for the same period in 2006 and indicate that PartyGaming is still feeling the pinch from its enforced retirement from the US online gambling market following the advent of the Unlawful Internet Gambling Enforcement Act (UIGEA) last year. In addition, the Gibraltar-based firm is still waiting to hear from the United States Department Of Justice regarding possible penalties for pre-UIGEA activities.
The company has appointed UK life peer Lord Moonie, who was previously a member of the House of Commons as well as Parliamentary Under Secretary for State at the Ministry Of Defence from 2000 to 2003, as a full director alongside Stephen Box, the Financial Director for the National Grid from 1997 to 2002.
In addition, two other non-executive directors have been appointed as representatives of the company’s billionaire founders. John Davy is to serve as the representative of shareholders Ruth Parasol and Russell DeLeon while Emilio Gomez will represent shareholder Anurag Dikshit.