GC quits PartyGaming on back of troubled year

PartyGaming general counsel David Abdoo is quitting the Gibraltar-based online gaming outfit following a tumultuous year in the online gaming sector.

Abdoo took the role in 2005 and has overseen the legal function during a difficult period in which the company bowed out of the FTSE100 and closed down its US operations after the Bush government outlawed internet gambling.

A spokesperson for PartyGaming told The Lawyer: “David’s looking at having a career break. He doesn’t have any plans for the moment.”

The company is seeking a replacement and Abdoo will remain in the position until a new general counsel has been found.

Abdoo, who has been with PartyGaming since before its flotation, came under the spotlight after being given a generous £5m payoff following the Carlton-Granada merger. He then joined post-merger ITV as company secretary, but left two months later.

Abdoo also came under scrutiny for offloading his PartyGaming chips two weeks before releasing the group’s second quarter results in July last year. He disposed of 1.17 million shares at 116p each and pocketed some £1.98m.