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Dikshit Sells Remaining Stake in PartyGaming

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In October last year we reported how Anurag Dikshit, the co-founder of
online gambling giant PartyGaming Plc, sold around 66 percent of his
stake in the company for £213 million, and according to reports he sold off his
remaining shares this week for £105 million.

After news of Dikshit’s share shedding became public, PartyGaming shares dropped
by 5.4 percent on the London Stock Exchange (LSE). The online gambling
entrepreneur who co-founded PartyGaming in 1997, reportedly sold his remaining
38.8 million shares for 270 pence each.

The shares represented a 9.5 percent holding in the firm. According to
spokesperson, Shimon Cohen, Dikshit sold his shares in PartyGaming because he
wants to move on with his life. ‘It’s been a process over four years since he
first withdrew from the board. And that’s now it,’ he said.

Dikshit made international headlines in December 2008 after he pleaded guilty to
partaking in illegal online gambling in the United States. He then cooperated
fully with the U.S. Department of Justice in its investigation of the firm, as
well as agreed to pay $300 million in fines and restitutions.

‘It’s brought its fair share of issues,’ continued Cohen. ‘We still have the
court hearing and sentencing hanging over us. But Anurag voluntarily went to
America and pled guilty so that he could move on.’ When PartyGaming listed in
2005, Dikshit became the 207th richest person in the world.

The news saw PartyGaming’s share price drop 15.7 pence to 277.8 pence a share,
valuing the firm at £1.13 billion. PartyGaming, which is based in the online
gambling-friendly jurisdiction of Gibraltar, owns and operates PartyPoker, one
of the world’s most successful online poker rooms.

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