Perhaps the secret to gambling is to ride your luck and bail out at the right time. And there’s no doubt that companies offering online poker have been seeing a lot of royal flushes of late. Take the market leader, PartyGaming. At the end of this month, the company would have been listed for a year. And that means its founders will be able to sell more stock. At least that’s what we thought. There was a 12 month lock out from selling. But then yesterday, shares equating to 8.75% of the company were put up for sale. Apparently, they found a way of selling the shares. The share price immediately fell, down 7% at one stage, and in the end the foursome, who want to avoid a freefall, only sold 5% of the company.
Even so, the gang of four, that’s chief operating officer Anurag Dikshit, marketing director and member of India’s 40 Richest people Vikrant Bhargavar, Ruth Parasol, the person who first came up with the idea, and commissioned Dikshit to write the software, and her husband Russell DeLeon are all now Â£232mn richer
Why have they done this? Is it because they know something we don’t know and want to get out? Or is it that the money they have made is quite enough, thank you, and that it would be greedy to stay in their eking out further returns when they are already very rich? amp;#13;
© Investment & Business News 2013