Party Poker Founder Reduces Stake

20th October, 2009

Anarak Dikshit today announced he was to sell 2/3rds of his remaining stake in his company Party Gaming, whose sites include online poker site Party Poker and the online casino site Party Casino.

Dikshit, who was the company's marketing chief and was recently named as being one of the world's wealthiest men with an estimated fortune of over $1bn, has decided to sell 75% of his stake in the company, worth around £213m.

Dikshit caused controversy recently by agreeing with the US Government to pay a fine of over $300m, after pleading guilty to violating US internet laws. Party Poker's main market was the US and since the changes in law, Party Poker and the mother company have since suffered in the cluttered marketplace.

This move by Dikshit has been mooted as another blow to Party Gaming and it's current CEO, Jim Ryan.