by Emma
19. January 2009 11:03
Party Bingo management, one of the most senior members of the Party Gaming management team, who run PartyBingo as well as one of Europe’s largest poker sites, has announced that he will step down next month.
O’Malia has been Chief Executive of online sports betting group Gamebookers, which was acquired by Party Gaming in August 2006. He has been responsible for the integration of the sports betting product into Party poker business and it is understood his departure will have minimal effect on Party’s bingo business.
John O’Malia, Group Managing Director of Party Gaming, said he would leave at the end of February 2009 in order to pursue other business interests. Jim Ryan, Group Chief Executive, will take on his duties.
In an official statement O’Malia said: “My time at PartyGaming has been extraordinary. We have made enormous strides in repositioning the Group’s gaming portfolio, something that I was determined to achieve before moving on. I am enormously proud of the progress we have made and the fact that many of the Group’s games are now once again recognised as being best in class. Whilst I shall certainly miss the excitement of working for the world’s leading listed online gaming company, I am looking forward to taking on fresh business challenges.”
2008 Third quarter revenues from sports betting were just $5.1 million, against poker revenues of $65 million. Many analysts believe that Party has been unimpressive in its cross-selling of sports betting to its core poker audience.
Jim Ryan said: “Over the past two and a half years, John has made a significant contribution to the transformation and leadership of the Group. In particular, his vision and dedication were fundamental to the successful launch of the next generation of our signature PartyPoker.com product in September 2008. John is a natural leader and is keen to fulfil his potential in a more senior management role that will play to his considerable industry and management experience. Whilst saddened by his decision to leave the Group, we wish him every success for the future.”
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Tags: party bingo
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