Comments on: Party Poker Cofounder to Plead Guilty, Pay $300m Fine

By: DanM

DanM — Wed, 17 Dec 2008 22:54:55 +0000

So Anurag just has some shit going on where he needs to clear this off his plate … or maybe travel to the US?

By: Poker Shrink

Poker Shrink — Wed, 17 Dec 2008 21:50:53 +0000

Less we forget, the other two major stockholders and original owners of Party Poker are not settling a similar claim with the US government. Unlikely there will be any Party presence in the US until all claims are settled.

By: DanM

DanM — Tue, 16 Dec 2008 22:39:54 +0000

Re: 5 pm update

“I came to believe there was a high probability it was in violation of U.S. laws,” Dikshit, a citizen of India who lives in Gibraltar and Britain, told the court. “I understand that what I did was wrong.”

He was released on a $15 million personal recognizance bond and under the plea deal his travel is restricted to the European Union, India and New York.

Damn, I think it’s strange that a United States court can put restrictions on an Indian passport.

By: Aaron A.

Aaron A. — Tue, 16 Dec 2008 20:22:42 +0000

Crap Bill!! I was just about to say that. Dik Shit haha.

By: DanM

DanM — Tue, 16 Dec 2008 18:14:10 +0000

Thanks for the update, Kev. I’m certainly happy, as a PartyPoker stock owner. And the word that a settlement with the company is pending makes me think they are due for another spike.

(But note: I am a total stock donkey — so take that assessment with many many grains of salt.)

By: DanM

DanM — Tue, 16 Dec 2008 17:40:06 +0000

Can you imagine what it must be like to be the kid who grew up being made fun of for his last name, suddenly having a couple billion dollars?

By: Bill Reynolds

Bill Reynolds — Tue, 16 Dec 2008 16:10:55 +0000

Come on, that’s a made-up name. “Dikshit”? No Way.

By: DanM

DanM — Tue, 16 Dec 2008 06:37:09 +0000

One of the things I just found interesting about the link in your comment — the value of the US dollar seems to be rising against the British pound.

I’ve always thought of it as 2:1, but apparently it’s now 3:2.

By: Kevin Mathers

Kevin Mathers — Tue, 16 Dec 2008 04:06:26 +0000

You're probably right on why it's that much Dan. Expect their stock to rise again tomorrow morning, which helps his bottom line as well.

By: DanM

DanM — Tue, 16 Dec 2008 03:16:59 +0000

I’m curious where they come up with that number, though. I have a feeling it’s pretty close to what Dikshit woulda had to pay in some capacity in American taxes had he made that money in a regulated US environ.

By: DanM

DanM — Tue, 16 Dec 2008 03:13:12 +0000

Hmm, very interesting. I think you are on to something. Party’s stock ain’t exactly expensive these days either.

By: Kevin Mathers

Kevin Mathers — Tue, 16 Dec 2008 02:21:36 +0000

That’s when you get the B&M casinos to come in and consolidate the market.

By: DanM

DanM — Tue, 16 Dec 2008 02:19:26 +0000

And plenty who can’t afford to.

By: Kevin Mathers

Kevin Mathers — Tue, 16 Dec 2008 02:17:19 +0000

It surely is, but if it takes “only” $300m to be legitimate, I’m sure there’ll be plenty of sites who’ll gladly pay.

By: DanM

DanM — Tue, 16 Dec 2008 02:12:25 +0000

Shakedown.

They might as well call it a licensing pre-application fee.

By: Ben Matlock

Ben Matlock — Tue, 16 Dec 2008 02:02:11 +0000

$300,000,000???????