PartyGaming founder leaves the business
One of PartyGaming’s founders, who paid a hefty price to avoid a possible prison term in the United States, has sold his last remaining stake in the Gibraltar-based online poker giant.
Anurag Dikshit sold 38.8 million shares at a price of 270 pence per share to institutional investors, according to a Bloomberg report. The sale of the 9.5 percent holding raised about £105 million.
Dikshit sold two-thirds of his stake in October.
“This is simply about moving on,” a spokesman said. “It’s been a process over four years since he first withdrew from the board. And that’s now it.”
In December 2008, Dikshit pleaded guilty to illegal Internet gambling in the United States and agreed to cooperate with the U.S. Justice Department in its probe of the company. He paid $300 million in fines.
Party was founded in 1997 by a group including Dikshit, who created its software platform, and two Americans. The company’s 2005 initial public offering made him the world’s 207th-richest person the following year, according to Forbes magazine.