Thursday, June 16, 2005

indian makes it big in online gambling

jun 16th

PartyGaming, the world's leading online poker site, announced details of its forthcoming flotation in London. The company, based in Gibraltar, is valued at around £4.8 billion ($8.6 billion), about £1 billion less than most recent estimates. Maybe 90% of PartyGaming's customers are based in the United States, where the legal status of online gambling is unclear.

cofounder and biggest shareholder (40%?) is an indian software guy. chief of marketing is also an indian, both i think 1990's grads from iit delhi.

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