PartyGaming's Dikshit Sells Remainder Of Casino Shares
26th January, 2010
Founder of Party Gaming, Anurag Dikshit has sold his remaining shares in the online casino operator.
He sold 38.8million shares priced at £2.70 each through an accelerated bookbuild to institutional investors made by his Crystal Ventures vehicle.
A representative for Dikshit said that the move is the final piece in the process of removing Dikshit from the online gambling industry. This latest move has caused PartyGaming’s stock to drop by 7% as the massive volumes of stock hit the market.
“We have the court hearing and sentencing still hanging over us," said spokesman Shimon Cohen to Bloomberg News. "Anurag voluntarily went to America and pleaded guilty so that he could move on.”
PartyGaming has resolved its differences with the America Government after paying a large fine to avoid future investigations for its online casino operations in the past. PartyGaming officials are preparing to meet all US regulatory requirements if the online gambling market is reopened.
Distancing himself from any appearance of continuing his ownership of online gaming is a key part of Dikshit's legal preparation.
By Carol
