Anurag Dikshit is a well known name in the online betting world, who has created news once again. The Indian billionaire has concluded his involvement in PartyGaming by trading his left-over stake for £105m.
The shares worth 38.8m were transferred by Dikshit through book-building method at 270p. The selling of such large amount of shares brought down the points of the firm from 15.7p to 277.8p. As stated by sources the proceeds of the trade will be donated to the Kusuma Trust.
Anurag Dikshit has been active in the online betting world and this sales turns out to be the second deal in the last four months. Last October he acquired around £188m through a share sale. The deal totaled his sales of shares to £700m. However, it seems that the billionaire is more interested in charity, granting Kusuma a whopping amount of £500m.
The sudden decision of Dikshit selling off the shares comes chiefly due to the unstable state of PartyGaming. Talks are around of PartyGaming going in for a merger due to certain alterations in the US legislation. The future of the enterprise is certainly at doldrums with the Gibraltar-based tycoon, the founder of the company taking a formal exit.
Jim Ryan, chief executive, stated last week that merger plans are around with PartyGaming and is likely to be taken over by Austria’s Bwin, the rival betting firm. The deal might conclude at £2bn. Moreover, the firm is eagerly awaiting the decision of the US government legislation on internet gambling. In 2006 internet gambling was banned by the Bush administration, but then the Obama administration is likely to lift it.
