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Online Casino Firm to Announce New CEO

According to a British online casino publication, online casino poker firm Party Gaming is expected to announce the name of a new chief executive to replace outgoing CEO Richard Segal. Mitch Garber from online payments firm Fire One will become one of the most highly-paid executives in Britain if he accepts the top job with the online casino firm. The announcement will effectively put an end to rumors that have linked several prominent names in the online casino industry with the chief executive’s job.

Garber recently resigned from his position of executive chairman at Fire One, and is understood to have verbally accepted the online casino role. His package is expected to include a share deal totaling seven million shares annually for a fixed four year term, along with a salary of 585,000 pounds sterling.

The online casino firm is expected to make a public statement announcing Garber’s appointment in the next week. Outgoing CEO Richard Segal announced his departure from the online casino firm last month, following his decision not to relocate to Party Gaming headquarters in Gibraltar. Segal is currently being courted by a competing online casino firm eager to capitalize on his knowledge and experience in the industry.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.