Dikshit is Selling PartyGaming Shares

22 October 2009

Makes you wonder if he is doing this to pay off his debt to the US Treasury. Maybe he thinks this will lighten his sentence. We will see what happens.

LONDON, England — As reported by Bloomberg: “PartyGaming Plc founder Anurag Dikshit will sell up to 75 million shares in the company through his Crystal Ventures Ltd. vehicle.

“The shares will be sold through an accelerated bookbuild to institutional investors, Crystal Ventures said today in a statement distributed by Business Wire.

“PartyGaming, the owner of the PartyPoker.com online- gambling brand, was founded in 1997 by a group including Dikshit, who created its software platform. The company’s 2005 initial public offering made him the world’s 207th-richest person the following year, according to Forbes magazine. Dikshit holds 113.8 million PartyGaming shares, or 27.9 percent of the company, according to Bloomberg data.

“In December 2008, Dikshit pleaded guilty to illegal Internet gambling in the U.S. and agreed to cooperate with the Justice Department in its probe of the company. He is scheduled to be sentenced next year…”

We will keep you informed as things develop.