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DIKSHIT SHARE SELL-OFF SPARKS SPECULATION
10/21/09 - The decision by Party Gaming founder Anurag Dikshit to sell off his remaining shares in the company not only caused a 12 percent dip in the share price this week; it ignited speculation as to the 36-year-old technology guru's motivation.
The most popular supposition appears to be linked to the possibility that the United States may legalise and regulate online gambling at some stage in the mid-term future, propelled by legislative initiatives to do away with the Unlawful Internet Gambling Enforcement Act and instead reap much-needed tax revenues from the popular pastime.
Industry observers reason that in such a scenario the requirements to obtain a licence, especially by a non-US company, would almost certainly demand a clean criminal record by company, management and major shareholders. Dikshit's guilty plea to a count of illegal gambling, and his agreement to pay in $300 million in December last year could make his financial stake in the Party Gaming group a burden for the company, hence the move to sell.
That Party Gaming has its sights on the US market should it liberalise, is clear from its recent preparedness to pay out $105 million in a 'no prosecution' agreement with the US Department of Justice.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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