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Anurag Dikshit Selling More Partygaming Shares
10/20/09 - Anurag Dikshit, the Indian computer technology professional who helped found online gambling group Party Gaming plc and in the process made a huge fortune, is to sell all but 38.8 million of his remaining shares in the company.
A statement from Dikshit's company Crystal Ventures Limited this week advises that the multi-millionaire is to offer 75 million of his remaining 113.8 million Party Gaming shares - 27.9 percent of the stock - to institutional investors.
Dikshit was, at age 25, a key member of the Party Gaming founder group that included Ruth Parasol and her husband Russ DeLeon. He created the initial software platform and benefitted from the company's success as it grew to one of the biggest online gambling groups in the industry, and eventually went public in 2005. That success translated into great wealth, with Fortune magazine at one time listing Dikshit as the 201st richest man in the world.
With the company's London listing, Dikshit became its largest individual shareholder, but sold off 23 percent of his stake to become a billionaire - one of the youngest in the world at that point.
However, that success included the stress of pressure from the United States Justice Department following Party Gaming's withdrawal from the US market in the wake of the UIGEA in 2006. In a controversial decision to relieve the fear of prosecution, Dikshit pleaded guilty to as an individual to a count of illegal gambling and agreed in December 2008 to forfeit $300 million.
More recently, Party Gaming itself settled with the DoJ in a $105 million "non-prosecution agreement" deal, putting to rest fears among the Gibraltar-based company's investors and lenders.
Now 36 years old, Dikshit lives in Gibraltar, has other business interests but remains a chess aficionado and student of antiquities.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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