Online Casino Company Set to Sell Founders’ Shares
| Casino News> Archive> 2006> July Online Casino Company Set to Sell Founders’ Shares |
13 Jul 2024
When it was announced that the founders of online casino giant company, Party Gaming, were stepping down from the board, analysts were quick to predict that a major share sale was in the pipelines. Sure enough, it was recently decided that 8.75% of the online casino company’s shares would be made available for public purchase after Chief Operations Officer Anurag Dikshit and Marketing Director Vikrant Bhargavar made their move from the online casino board and offered a good portion of their stocks for sale. The 8.75% is valued at over a billion dollars.
Analysts say that supply for the online casino company’s stocks will temporarily outstrip demand. This will cause a drop in the Party Gaming online casino share prices but analysts are quick to remind shareholders that the position is temporary and the online casino site is touted to bounce back, stronger than ever. If previous annual reports are anything to go by, this particular online casino company is extremely secure and successful within the gambling industry.
When the online casino company’s shares were floated last year, 28% of its stock was made available to private buyers and Party Gaming founders become overnight multi-millionaires. The new announcement regarding the online casino company’s shares pushes that number up to 35%.
When it was announced that the founders of online casino giant company, Party Gaming, were stepping down from the board, analysts were quick to predict that a major share sale was in the pipelines. Sure enough, it was recently decided that 8.75% of the online casino company’s shares would be made available for public purchase after Chief Operations Officer Anurag Dikshit and Marketing Director Vikrant Bhargavar made their move from the online casino board and offered a good portion of their stocks for sale. The 8.75% is valued at over a billion dollars.
Analysts say that supply for the online casino company’s stocks will temporarily outstrip demand. This will cause a drop in the Party Gaming online casino share prices but analysts are quick to remind shareholders that the position is temporary and the online casino site is touted to bounce back, stronger than ever. If previous annual reports are anything to go by, this particular online casino company is extremely secure and successful within the gambling industry.
When the online casino company’s shares were floated last year, 28% of its stock was made available to private buyers and Party Gaming founders become overnight multi-millionaires. The new announcement regarding the online casino company’s shares pushes that number up to 35%.
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