Word: britain
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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...
...legal situation is "absurd," says Mark Davies, international marketing director for the firm Betfair, based in Britain. "Poker is a game played by many tens of millions of Americans. It is played by Presidents and judges. It's strange to say it's illegal just because it is online." In other places, from Hong Kong to Sweden, online wagering similarly runs up against a thicket of restrictions. In Britain, where punters regularly wager in betting shops, online gaming is now legal, which is why companies such as PartyGaming have gone public on the London Stock Exchange...
...Times Square featuring a pretty model and the slogan EVERYBODY BETS. PartyGaming CEO Segal says big American media groups seem less reluctant to air gaming ads than they were. "The U.S. is a clear example of prohibition not working," says Peter Collins, an expert on gaming regulation at Britain's Salford University, who advised the British government on its new gaming legislation...
With oil near $60 a bbl., a mystery of geology becomes more and more intriguing: Where will we find the next great oil discovery to rival such gushers as Alaska's North Slope or Britain's North Sea? One might think the giant oil companies have the answer. But the biggest customers of all are turning to a 79-year-old Texan who operates like the Indiana Jones of the oil patch. Gene Van Dyke is one of the last of the wildcatters, independent operators who roam jungles and deserts looking for black gold. He has become...
...INDICTED. CONRAD BLACK, 61, former media baron; on eight criminal fraud charges; in Chicago. As chairman and chief executive of the Chicago-based newspaper group Hollinger International, owner of the Chicago Sun-Times and one-time controller of Britain's Daily Telegraph and the Jerusalem Post, Black allegedly helped orchestrate a $32 million fraud. He was forced out in November 2003 when shareholders revolted over the surfacing allegations. Along with three other senior executives, Black is also accused of illegally pocketing $51.8 million from the sale of the company's Canadian newspaper assets, which he used to bankroll a lavish...