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Massive Share Selling at Online Casino

By George Oates, Dec 8th 2006
Now you can own a big part of online casino software firm Party Gaming, due to the fact that the people that created it are putting a part of the shares up for sale. And according to broker Dresdner Kleinwort Wasserstein, the percentage that will be sold is 8.75% of the online casino company, which is worth around 450 million pounds.

With this selling, the online casinos by shares owned by players will grow from 28% to 35%. Among the founder of the very successful online casino company we can find billionaire and chief operations officer, Anurag Dikshit, marketing director Vikrant Bhargavar, and Ruth Parasol and her husband Russell DeLeon.

Nitin Jain will also sold a certain amount of his shares. The financial analysts have predicted a major share sale from Party Gaming's founders ever since the end of May, when the online casino firm declared that Dikshit and Bhargavar would retire from the board.

The two online casino chiefs have an overall holding of 30.4 percent and 8.6 percent respectively being worth approximately $3.73 billion. Even if the sale can only benefit the online casino technology, there are many major investors who said that the selling of shares, will be an action that will negatively affect Party Gaming’s share price.

And the result of this was that online casino company shares were down 6.6 pence to 115.75 pence in London morning trading following the announcement.

Related News
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Jul 10th 2006 Ubisoft Launch a Disputed Video Game
Jun 14th 2006 Party Gaming Stocks are Going Down
May 20th 2005 Canadians lead software bonanza

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