Word: bhargava
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Gambling lore is filled with tales of the lucky novice who walks into a casino and breaks the bank. This year it really happened. The fortunate neophyte is Vikrant Bhargava, who is from Rajasthan, India, and admits that he had never set foot in a casino until recently and still isn't all that fond of gambling. But in a single day in June, he and two colleagues walked away with the poker purse of all time: more than $1 billion in cash...
What distinguishes reality from myth is that Bhargava, 32, wasn't playing poker. He is the marketing director of PartyGaming, a company based in Gibraltar that operates the world's largest online poker site, PartyPoker.com Bhargava joined the firm in 2000 when it was an Internet start-up based in the Dominican Republic that was trying to establish a niche in the then novel world of online gaming. Today PartyPoker boasts that more than a million people have played for money on its site this year, the vast majority of them Americans, who are technically circumventing the law, according...
Flush with success--and with profit margins of 60%--the firm went public on the London Stock Exchange this summer. The June 27 IPO, which valued PartyPoker at $10 billion, was Britain's biggest this year. Bhargava shared the pot with two other reclusive co-owners: a Net pornographer named Ruth Parasol, who switched from carnality to cards in the late 1990s, and Anurag Dikshit, an Indian software whiz whom Bhargava met when both were students at the Indian Institute of Technology in Delhi. They are not three of a kind, but they did cash out about one-fifth...
...PartyGaming's Bhargava, the world could hardly look more different from six years ago, when he took a blind leap and joined the company. After his studies in Delhi in the early 1990s, and business school, he worked at Bank of America and British Gas before heading to Mexico for a change of scenery. On a whim, he e-mailed his former college friend Dikshit, who, it turned out, had just set up a software company and was trying to develop a gaming start-up for Parasol, a lawyer by training. Parasol's history has filled the pages of British...
...what do potential competitiors say about Ross-Rieder’s chances? “I don’t really see [Ross-Rieder] smashing anything but his ego when he performs,” says Bhargava...