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…”
In press releases separately put out by both companies today, bwin and PartyGaming have released details of their merger plans.
In the press release from bwin, Norbert Teufelberger, Co-CEO of bwin explains, “The online gaming industry is going through a phase of consolidation, making market players’ size and geographic diversification more crucial than ever.”
The new company will operate worldwide with its existing brands under the name of bwin.
It was announced today that two big powers in the European online gambling market will merge into one. In a reverse takeover, PartyGaming plans on acquiring Bwin Interactive in a deal valued at $1.76 billion dollars. This would create the world’s biggest traded online gambling company.
According to Bloomberg,
“The merged company, which had reported sales of 682 million euros, will be 51.
For U.S. online poker players that remember the days when PartyPoker was the biggest online poker site, there may be a glimmer of light at the end of the tunnel. Party Gaming released its Q1 report last week showing gains in revenue of 27% and Chief Executive Jim Ryan said of the U.S. market,“We are seeing increased momentum towards regulating online poker. It’s possible that it could happen this year and we’re prepared if it does.”Party Gaming which dominated the U.S.