Party Gaming Shares Slip

As reported by the UK Times Online: "Shares in online gambling giant Party Gaming slid this week as investors gave a cool response to four of its founders selling stakes in the group.

"House broker Dresdner Kleinwort Wasserstein raised £232m from the sale of 200m shares — about 5% of the company — at 116p each.

"Anurag Dikshit offloaded 57m shares, reducing his stake to 28.95%, while Vikrant Bhargava sold 67m, leaving him with 6.96%. Ruth Parasol and her husband, Russell DeLeon, both disposed 33m shares, leaving each with 14.87% of the company.

"Between them, the four founders still own 65.7% of Party Gaming…"

2006-06-14