PartyGaming’s Secret Online Casino Share Deals
When online casino firm PartyGaming’s share price reached record highs on the London Stock Exchange, its founding members took the opportunity to sell their online casino shares for record profits. But the nature of these share deals has remained a closely guarded secret due to possible legal consequences for investors. When the online casino first joined the London Stock Exchange in June 2005, its share price was $2.12, or 116 pence. However by the close of business the following day, the share price had already risen by 11 percent.
Shortly afterwards three of the online casino company’s founding members sold shares. Anurag Dikshit, the Group Operations Officer, reportedly made a sale worth 720 million dollars. PartyGaming’s creator Ruth Parasol and her husband J. Russi DeLeon also sold their shares in the online casino separately at a value of $370 million dollars. Today information on the shares sold by the founders of the online casino remains highly confidential with several large American-based funds neither confirming nor denying their involvement.
Reluctance to make public statements concerning the online casino share sales is attributed to the ambiguous legislation surrounding online casino gambling in the United States. A PartyGaming publicity officer has since confirmed that shares were sold to international investors but has refused to specify which funds or countries participated in the sale.