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Mitch Garber (credit: PartyGaming)

Mitch Garber, a graduate of Canada’s prestigious McGill University in Montreal and former CEO of Optimal Payments Inc., joined PartyGaming in April 2006, a mere seven months before the US passed the Unlawful Internet Gambling Enforcement Act. Since that time, PartyGaming’s brands which include PartyPoker and PartyGammon among others pulled out of the US market. The resulting losses for PartyGaming were quite significant. At one point, the company reported more than a 2/3 revenue reduction.

On Wednesday, March 6, Garber, 43, announced that he would not seek a renewal of his contract when it expires on May 1, 2009. He plans to return to North America with his family. In discussions with journalists on March 7, Garber mentioned that the search for a new CEO would begin “immediately” and that “both internal and external candidates” would be considered. He went on to say that “a number of people who have come to PartyGaming through acquisitions or progressed through the company would have the ‘relevant skills.’”

PartyGaming will continue to improve its “international appeal” and has hope that they will be able to reach an agreement with the US to return to the market sometime this year.

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