More shares to be sold by Party Gaming

Dikshit to sell most of his remaining stock

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.

All News Categories

Most Viewed Articles

See all

Related News

Live activity feed

  • Index
    "Mr Green Exclusive Free Spins"
    READ
  • Avatar 17215
    "ttps://www.youtube.com/watch?v=eK0rvReE-4c"
    READ
  • Winaday
    "Hi Casinista932, This is Jack Jelinek from Winaday Marketing Department. First off, many thanks for chosing our casino site among many others in order to deposit, and have fun playing our games, furthermore congrats on turning your initial deposit into a withdrawal of double the deposit amount. Cool, so far so good. During the verification process that we are required to carry out before sending out any winnings, you have been asked to provide us with two documents that would verify both your personal identity and your postal address, which you did indeed, having provided us with the bank statement and a copy of your national id. Until this point it all looked like a promising start of a new relationhip. But sadly then it turned sideways --- As the provided copy of your id was rather lowres, you were then asked for a hires copy of the id, followed by a request of taking a pic of yourself holding the id which --- as hobitgirli mentioned, is nothing unusual when it comes to cashing out from online casinos --- sadly you refused to provide us with. Too bad this turned out to be such a major obstacle for you, especially if a 30 EUR feature phone would do the trick --- or perhaps any of your friends might help you out there snapping the pic on their digital camera or a smartphone if you don't own any of those --- and when we would be willing to give you as much time you would need to obtain these... Since you went 'verbal' about your decision, our Fraud and controlling dept. has decided to politely 'walk you away', by voiding the winnings, refunding your initial deposit and placing your account under permanent suspension. Too bad it didn't work out for us. Nonetheless, let me stress out that *you* made the decision to part our ways by not providing us with the required docs, while we had every intention not to disappoint you by not paying out your winnings. After all, Winaday --- let alone its sister site Slotland, paying winners since 1998 --- has been around for 8 years, and has paid out millions in winnings to many many thousand players so far. Which can be easily attested by checking a number of comments on this forum alone, many of which being made by players who not only were lucky to claim a sizable exclusive freebie that we offer through LCB, but also luckily turning it into a cashout, without actually depositing any money on their own... Lastly, purely as an act of good will, we will still be happy to send you your winnings on condition that you can deliver the requested piece of documentation *within 1 week from now on*. Yes, that is even if you no longer wish to play any of our 100% unique slot and casino games, such as Birthday Bash, Power Keno, or Tens or Better, that you seemed to have enjoyed the most. Can it get any better than this? Cheers Jack  "
    READ
  • Index
    "Hi MzCoraE, This is obviously an error since tourneys from certain casinos are added to our list automatically. This error has been reported to our admins and will be removed shortly. Please note that we do not promote other sites' tournaments because we have our own exclusive ones and the whole section on our forum dedicated to the exclusive tourneys. "
    READ
  • Flapjack
    "Welcome Matteo!"
    READ
  • Flapjack
    "Yes, I have noticed the same thing. I think it is very rare to get free spins for new slots nowadays. There were a couple of casinos who would have such "promo" for their players, but not anymore. I don't believe that a few free spins actually can financially hurt casinos. "
    READ
Swipe left or right to see more

lcb activities in the last 24 hours

  • 22
    new members
  • 489
    members online
  • 9310
    guests online
  • 107
    new posts
  • 2640
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language

Search

Search Results

39012170