January 28 - Anurag Dikshit, who was co-founder of one of the world's biggest
online casino and poker groups, has sold his shares in Party Gaming Plc.
The company, which owns and operates the hugely successful online poker site,
Party Poker, was founded in 1997 and is listed on the London Stock
Exchange.
In October last year, Dikshit sold two thirds of his stakes in Party Gaming.
In December, he travelled to the United States and cooperated with the
Justice Department in an ongoing case brought against Party Gaming regarding
breach of local gambling laws prior to the Unlawful Internet Gambling
Enforcement Act.
The Party Poker founder agreed at the time to pay a $300 million fine, and
will need to travel to the US again in December to face sentencing.
The latest sale of shares means that Dikshit has no remaining stakes in Party
Gaming Plc.
The 9.5% sale raised £105 million for the businessman.
Share prices stumbled following the news of Dikshit's sale, and closed 5.4%
lower in London yesterday.
A spokesman for Anurag Dikshit, Shimon Cohen said: "This is simply about
moving on. It's been a process over four years since he first withdrew from the
board. And now that's it."
Speaking about Dikshit's settlement with the Department of Justice in the US,
the spokesman said: "It's brought its fair share of issues. We have the court
hearing and sentencing still hanging over us. Anurag voluntarily went to America
and pled guilty so that he could move on."
Party Poker was founded in 2001 by Dikshit and Ruth Parasol, and grew
dramatically to over $500 million in annual profits by 2005.
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