This story keeps getting more interesting.

So, the deed has been done. PartyGaming co-founder Anurag Dikshit yesterday agreed to plead guilty and has forfeited $300 million.

So, what is interesting about this?

Well...

First of all, he is paying $300 million!!! Holy crap! According to the Financial Times, he's paying $100 million immediately, another $100 million in three months, and a final $100 mill by September 30, 2009.

Secondly, his sentencing is not scheduled until after his final payment. By then, he will be at the mercy of a likely pro-gaming administration and will have had forfeited $300 million. So, I don't think he's going to see any jail time.

Thirdly, Party's stock jumped by about 35% since the news of this deal broke the other day. Since Dikshit owns 27% of the stock, my my back-of-the-napkin calculation tells me that he's already made about $60 million back from his $300 million "investment". And if this deal ever allows Party back into the US market, this deal will be one of the sweetest on record.

Finally, he is pleading guilty to the Wire Act. As far as I know, this is the first time the Wire Act was successfully applied to anything other than sports betting.

Uh-oh. Is it just me, or is this deal setting a precedent? Is he making a longterm lucrative deal even as he throws the rest of the online poker industry under the Wire Act bus?

Maybe the Poker Player Alliance should stop trying to position itself as anti-sports gambling and should be working for the entire online gambling industry, because it looks like we might be all in the same boat after all.

But more on that later.