PartyGaming Shares On the Stock Block

PartyGaming is going to be a little different once the shares that co founder Anurag Dikshit divests himself of the last of his holdings on PartyGaming. He says he will donate all of the money he gains from the sale to his favourite charity. The gentleman owns 28 percent of the shares in the company of which he has posted two thirds on the London Exchange as for sale. Forbes Online recently reported that  shares had fluctuated in a downward trend until settling at a minor loss. the 75 million shares are on the block now with the remaining 35 million shares coming up for sale at a later date.

The charity the entreprenuer wishes to donate all funds to is the Kusuma Trust. The expected $150 million dollars will go to the Trust in total. Still very much in its infancy, Kusuma is addressing a wide number of issues concerning education and children at risk with the intention of narrowing our focus in a few years time. At that point we intend to direct funding to fewer initiatives proven to have the most dramatic impact on society as a whole. Currently the Trust provides financial support and education to children in India, Britain and Gibraltar.
These actions by the shareholder distancing himself from the company suggests that this is a move for PartyGaming as it may try it’s luck in securing a licence in the USA. The former co founder pleaded guilty in America and paid a $300 million dollar fine to the Department of Justice. PartyGaming paid out a $105 million fine as part of a non-prosecution agreement. The company seems to want a clean slate in the USA expecting future consideration in that market.