PartyGaming's Managing Director ResignsJohn O'Malia Held the Position for Less Than a Year |
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After just eight months at his new position, John O’Malia announced this week that he has decided to step down from the position of managing director at PartyGaming, effective at the end of next month.
“My time at PartyGaming has been extraordinary,” said O’Malia. “We have made extraordinary strides in repositioning the group’s gaming portfolio, something that I was determined to achieve before moving on.”
PartyGaming is an online gambling company based out of Gibraltar. Its poker site, PartyPoker, is the fourth most visited poker network on the Web, in terms of cash ring games. It was the most popular poker site before the U.S. government passed the UIGEA, all but forcing the publicly traded company to close its doors to American players.
O’Malia joined PartyGaming after serving as the chief executive of Game Bookers, a sports betting operator. PartyGaming purchased Game Bookers in 2006.
Although O’Malia was bestowed the position of managing director, as well as a position on the company’s board, last year, he was not chosen for the top executive job at the company, which was vacated after Mitch Garber stepped down last March. Jim Ryan, an accountant who had two decades of management experience in the technology and gaming industries, was named the new CEO.
O'Malia's resignation comes at a tumultuous time for the company, as it tries to reestablish itself as one of the premier names in online poker and as one of its co-founders awaitings sentencing. Anurag Dikshit, who was the largest shareholder of PartyGaming, was fined $300 million last month after he pleaded guilty in New York to violating the Wire Act.
“I am enormously proud of the progress we have made and the fact that many of the group’s games are now once again recognized as being best in class,” said O’Malia. “Whilst I shall certainly mistake the excitement of working for the world’s leading listed online gaming company, I am looking forward to taking on fresh business challenges.”
O’Malia was credited with revamping PartyPoker for its September 2008 relaunch. Ryan will assume O’Malia’s day-to-day duties.
“Whilst saddened by his decision to leave the group,” said Ryan. “We wish every success for the future.”
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