Ruth Parasol – The Most Successful Woman In Gambling Business

Home » Ruth Parasol – The Most Successful Woman In Gambling Business
April 4, 2022
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Ruth Parasol

When it comes to successful governments in the field of gambling entertinment, the names of kelvina air, phil raffin and oleg boyko pop up. But the gambling business is designed not only for men. This stereotype break the control level ruth parasol. Young and energetic woman turned partygaming in one of the largest operators in the early 2000s.

Name ruth parasol
date of birth february 27, 1967
place of birth san francisco, california, united states

Childhood

Ruth parasol was born in a wealthy family. Her father was a hardworking person, he held high positions in different companies for his career. This allowed the mother to remain a housewife and educate children.

Ruth sent marin academy to private school. She was an exemplary student with a middle score of 4.1 – a record indicator for an educational institution. When ruth received an unsatisfactory assessment, he began to argue with the teacher. Debates often ended in favor of the young lady.

In 1984, ruth entered the university of san francisco, which studied the basics of business. In 1988, she received a bachelor’s degree, but did not have time to decide on further career. Instead of working, the graduate began to study jurisprudence. In 1992, she graduated from legal college at westcliff university.

First capital

In the early 90s, ruth worked on his father and managed real estate. When the account was sufficient capital, she decided to start her own busines. Together with the set of warsaw ruth created internet entertainment group. The company specialized in adult services.

Huge profits provided sex by phone and pornography. Over time, for the sake of earnings, partners began to violand copyrights and distribute video stars, for example, pamela anderson and tommy lee. Ruth parasol was frightened by a tial and hastily left the company.

Dawn partygaming

In the internet entertainment group ruta received the nessary experience in management sites. The next starting point for it became gambling. In 1997, a business woman has created partygaming on the caribbean islands. In the same year, the starluck casino appeared under this brand.

To ensure further growth of the company, ruth needed investment. As partners, she consistently attracted the indian businessman anuraga dikszykh, a specialist in the marketing of v. Vicharda bhargava and a lawyer from harvard ruse deleon.

In the late 90s, a large scandal occurred. American mathematician michael sheklford held a computer analysis of roulette and blackjack on partygaming sites. The results showed that in these games the operator has too much advantage. Then representatives of partygaming recognized some injustice towards users, but attributed it to shortcoming software. Aftert that, the operator refused to service providers and took up their own developments.

Road to ipo

In 2001, the flagship project partygaming – partypoker appeared. This is the first site on the internet, which is fully dedicated to poker. Revolutionary software provided a rapid growth of the player’s popularity among players.

After launching partypoker immediately attracted 80 thousand. Users.

The company began to expand and receive super profits. This allowed the operator to organize large tournaments. The main chip was the event million. The main stage of the tournament was held on the cruise liner, and you could watch the game through the game show network network.

In 2003, partypoker held 60% on the online poker market

The company moved along the path of monopolization. To do this, she began to combine players from other platforms in a single pool. Among large partners, it was possible to celebrate empire online – poker rum provided up to 70% of new visitors.

In 2002, appeared by partycasino. On the site, visitors were given the opportunity to play slots, roulette and blackjack. After 2 years, partygaming earned more than $ 500 million thanks to three subsidiaries:

  • Starluck.
  • Partypoker.
  • Partycasino.

Ruth had serious plans for further development. To do this, she concluded a contract with the wsop – partypoker organizers became the main sponsor of the event. As a result, simple poker rooms players received the opportunity to get to the main events of the world series.

Billion on an ipo

In 2005, the partygaming operator entered the london stock exchange. Parasol sold 23% of the company for £ 1 billion. General capitalization amounted to £ 4.64 billion. The price of stocks began to increase rapidly – after a month, the cost of partygaming reached £ 6.5 billion. This allowed the operator to get into the ftse 100 index – the hundreds of the largest companies in terms of capitalization.

Partygaming was divided between four main investors. They could assign all profits with ipo. Instead, most of the funds reinvested. Parasol believed in his brainchild, and she had every chance of becoming the owner of the biggest gambling business.

In 2006, an updated version of the integrated platform appeared, which allowed us to combine users from different casinos in a single polegaming pool not only for poker, but also other games.

Sunset partygaming

In 2005, there was a second major scandal associated with poker players pool. It turned out that partypoker began separating its customers from users from other platforms.

Empire online filed a claim with a demand to pay $ 250 million for the players provided. In 2006, the company reached an agreement. A little later, partygaming bought the remaining part of the empire online. Similarly, i had to do with other partners: intertopspoker and multipoker. The amounts of transactions are not disclosed.

The us government inflicted a crushing blow to the operator, adopting a law on combating illegal gambling on the internet on september 29, 2006. Partygaming had to suspend users from usa. During the day, the cost of the company fell on the stock exchand by 60%, and it was excluded from the index ftse 100.

In april 2009, ruth parasol managed to conclude a global agreement with the us government. The operator for 4 years had to pay $ 105 million to avoid further prosection. Partygaming admitted in violation of us laws until 2006.

"She is a stunning woman. She is very, very smart, "- venture investor chery uman about ruth parasol

Care from business

Partygaming began a protracted crisis. Ruth parasol did not have experience in such situations. For sevel years she failed to reanimate the business, so she chose to convey the brazers of the board to more experienced specialists.

In 2015, ruth parasol sold the remaining shares of partygaming and no longer takes part in gambling business.

Business woman continues to engage in charity. Her foundation has ben working since 2004. For 16 years, he allocated more than 30 million to health care, environmental protection and cultural heritage. In 2020, the sunday times rich list edition estiated the state of ruth parasol at £ 780 million.

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