Dikshit Sells Off All Shares
Wednesday, October 21st, 2009It seems that Anurag Dikshit, the notorious founder of the online casino empire PartyGaming has decided to leave this world all behind. This came as a dramatic and slightly unexpected decision since his whole life was devoted to online casinos in a number of ways. But he decided to leave his company and ended up selling his full stake that he had invested in the company. This came out to a considerable chunk of change because even though PartyGaming has managed to come upon some rough times financially in recent months and years, the company is still one of the heavy weights for internet casino gambling in many parts of the world.
Dikshit had originally indicated that he would be soon making the move to sell off at least two thirds of his 28% stake in the PartyGaming stock. His stated intention was to bring a focus closer onto his charitable work that he has going for himself in the South Asian region. This is an interesting development for sure for anyone out there who has been following the ups and downs of PartyGaming and the market of online casinos in general.
Dikshit was fined $300 million and had to plead guilty to charges under the US Wire Act (from 1961 or so). Since Dikshit made his initial announcement to let go of two thirds of his stock, he subsequently decided to offload every single penny of it and just make a clean break so that he could move on with his life. It will be interesting to see what kind of an impact this move has on the casino gambling industry as a whole.
