21st of October 2009 Author: Glo Wood
Is the sell-off linked to Party Gaming's US ambitions?
The decision by Party Gaming founder Anurag Dikshit to sell off his remaining shares in the company not only caused a 12 percent dip in the share price this week; it ignited speculation as to the 36-year-old technology guru's motivation.
The most popular supposition appears to be linked to the possibility that the United States may legalise and regulate online gambling at some stage in the mid-term future, propelled by legislative initiatives to do away with the Unlawful Internet Gambling Enforcement Act and instead reap much-needed tax revenues from the popular pastime.
Industry observers reason that in such a scenario the requirements to obtain a licence, especially by a non-US company, would almost certainly demand a clean criminal record by company, management and major shareholders. Dikshit's guilty plea to a count of illegal gambling, and his agreement to pay in $300 million in December last year could make his financial stake in the Party Gaming group a burden for the company, hence the move to sell.
That Party Gaming has its sights on the US market should it liberalise, is clear from its recent preparedness to pay out $105 million in a 'no prosecution' agreement with the US Department of Justice.
General Gambling News
20th of October 2009
13th of December 2009
26th of April 2015
25th of April 2015
26th of February 2015
27th of February 2015
21st of April 2015
23rd of March 2015
24th of March 2015
Disclaimer Contact Us Privacy Gambling Help About Us Site Map
LatestCasinoBonuses.com © 2006-2015
Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
PLUS join now and get...
100% up to $1000 PLUS 25 free spins! Sponsored by ClubUSA Casino, US OK.
View more information here