Jackson leads PartyGaming to market

Gibraltar-based online gaming giant PartyGaming is poised to complete a reported $10 billion London flotation later this month, having assembled a powerhouse non-executive team headed by Sage chairman Michael Jackson.

With PartyGaming, which last year generated a $372 million profit from sales of just over $600 million, seemingly set to join the London share elite straight away, Jackson will soon become one of a select band of individuals to have chaired two FTSE 100 companies simultaneously.

Jackson, who also heads London-based venture capital fund manager Elderstreet Investments, is joined on the PartyGaming board by two other private equity leading lights. Former 3i chief executive Brian Larcombe will serve as deputy chairman and senior non-exec. Fellow 3i veteran Rob Perry (who will step down from the venture capital behemoth’s board in July), meanwhile, has been recruited as a non-executive director too.

Though full details of PartyGaming’s flotation have still to be announced, it has been confirmed that existing shareholders are offering around 23 per cent of the company to the market.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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