Russ DeLeon
Encyclopedia
Russ DeLeon pioneered PartyGaming
with his wife Ruth Parasol
.
Born in 1965 in Sacramento, California
, DeLeon received a Bachelor of Arts degree in Philosophy from the University of California, Berkeley
in 1987. He then worked on Capitol Hill in Washington D.C. for his local congressman the late Robert Matsui, and then for California Governor George Deukmejian
as an Executive Fellow. He was admitted to Harvard Law School
in 1988, but deferred his admission to travel around the world for one year, visiting 25 countries in Europe, the Middle East and Asia and then teaching English in Tokyo, Japan for 6 months.
After graduating from Harvard Law School
in 1992, DeLeon joined the international law firm of Morrison & Foerster in San Francisco, as an Associate in the Business Department, Intellectual Property and Corporate Finance Groups where he managed a wide variety of transactions, such as venture capital financings, mergers & acquisitions and public offerings, for start-up and established high-tech, media and entertainment companies. During his two and a half years there, DeLeon helped Morrison & Foerster pioneer one of the leading “convergence” practices in the San Francisco Bay Area, and served as Co-Founder and General Counsel to the San Francisco Multimedia Development Group with over 500 corporate members.
In 1995, DeLeon co-founded Evolve Software in San Francisco and served as its Vice President, Finance & Administration, General Counsel, Treasurer and Company Secretary through over $250 million in venture fundraisings in multiple rounds, culminating in an August 2000 initial public offering
on NASDAQ
. After the float, DeLeon transitioned to Vice President, International Business Development and headed up the establishment of its European headquarters and business.
DeLeon joined PartyGaming
as a full-time consultant in August 2001, when the group was just launching PartyPoker.com. DeLeon, with his wife Ruth Parasol
led the turn-around, development and profitable growth of PartyGaming, culminating in its June 2005 IPO on the London Stock Exchange
. Barely break even in 2001, PartyGaming grew dramatically to over $500 million in annual profits by 2005. After the passage of the Unlawful Internet Gaming Enforcement Act in October 2006 and PartyGaming's subsequent exit of the US online gaming market, DeLeon has seen a significant reduction in his personal wealth, through holdings of PartyGaming shares.
DeLeon and Parasol were married in California in 2003. Since January 2004, they have lived in Gibraltar
where they now have three children.
PartyGaming
bwin.Party Digital Entertainment Plc is an online gambling company, formed by the March 2011 merger of PartyGaming plc and bwin. The world's largest publicly traded online gambling firm, it is best known for its online poker room PartyPoker.com and its sports betting brand Bwin. It is...
with his wife Ruth Parasol
Ruth Parasol
Ruth Parasol founded PartyGaming in 1997, the parent company of online poker site PartyPoker.com, which floated on the London Stock Exchange in June 2005. In 2006, Parasol was ranked #197 on Forbes' 400 Richest Americans. Subsequently in 2007, she dropped off the Forbes' 400 Richest Americans...
.
Born in 1965 in Sacramento, California
Sacramento, California
Sacramento is the capital city of the U.S. state of California and the county seat of Sacramento County. It is located at the confluence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With a population of 466,488 at the 2010 census,...
, DeLeon received a Bachelor of Arts degree in Philosophy from the University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
in 1987. He then worked on Capitol Hill in Washington D.C. for his local congressman the late Robert Matsui, and then for California Governor George Deukmejian
George Deukmejian
Courken George Deukmejian, Jr. born June 6, 1928) is an Armenian American politician from California who as a Republican served as the 35th Governor of California and as California Attorney General .-Early life:...
as an Executive Fellow. He was admitted to Harvard Law School
Harvard Law School
Harvard Law School is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, it is the oldest continually-operating law school in the United States and is home to the largest academic law library in the world. The school is routinely ranked by the U.S...
in 1988, but deferred his admission to travel around the world for one year, visiting 25 countries in Europe, the Middle East and Asia and then teaching English in Tokyo, Japan for 6 months.
After graduating from Harvard Law School
Harvard Law School
Harvard Law School is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, it is the oldest continually-operating law school in the United States and is home to the largest academic law library in the world. The school is routinely ranked by the U.S...
in 1992, DeLeon joined the international law firm of Morrison & Foerster in San Francisco, as an Associate in the Business Department, Intellectual Property and Corporate Finance Groups where he managed a wide variety of transactions, such as venture capital financings, mergers & acquisitions and public offerings, for start-up and established high-tech, media and entertainment companies. During his two and a half years there, DeLeon helped Morrison & Foerster pioneer one of the leading “convergence” practices in the San Francisco Bay Area, and served as Co-Founder and General Counsel to the San Francisco Multimedia Development Group with over 500 corporate members.
In 1995, DeLeon co-founded Evolve Software in San Francisco and served as its Vice President, Finance & Administration, General Counsel, Treasurer and Company Secretary through over $250 million in venture fundraisings in multiple rounds, culminating in an August 2000 initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
. After the float, DeLeon transitioned to Vice President, International Business Development and headed up the establishment of its European headquarters and business.
DeLeon joined PartyGaming
PartyGaming
bwin.Party Digital Entertainment Plc is an online gambling company, formed by the March 2011 merger of PartyGaming plc and bwin. The world's largest publicly traded online gambling firm, it is best known for its online poker room PartyPoker.com and its sports betting brand Bwin. It is...
as a full-time consultant in August 2001, when the group was just launching PartyPoker.com. DeLeon, with his wife Ruth Parasol
Ruth Parasol
Ruth Parasol founded PartyGaming in 1997, the parent company of online poker site PartyPoker.com, which floated on the London Stock Exchange in June 2005. In 2006, Parasol was ranked #197 on Forbes' 400 Richest Americans. Subsequently in 2007, she dropped off the Forbes' 400 Richest Americans...
led the turn-around, development and profitable growth of PartyGaming, culminating in its June 2005 IPO on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
. Barely break even in 2001, PartyGaming grew dramatically to over $500 million in annual profits by 2005. After the passage of the Unlawful Internet Gaming Enforcement Act in October 2006 and PartyGaming's subsequent exit of the US online gaming market, DeLeon has seen a significant reduction in his personal wealth, through holdings of PartyGaming shares.
DeLeon and Parasol were married in California in 2003. Since January 2004, they have lived in Gibraltar
Gibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
where they now have three children.