Playtech founder sells 12 percent of its stake

Playtech announced that its co-founder sold 12 percent of its stake for US$349 million.

UK.- Playtech, the online gambling software company, announced that its co-founder Teddy Sagi sold 12 percent of its stake in the company for US$349 million. He was originally planning to sell only 10 percent of it.

Sagi owns the company Brickington Trading Limited, which is the largest shareholder in Playtech with 38.7 million ordinary shares, each of one 850p apiece. Even though he sold 12 percent of its stake, Sagi remains the main shareholder with 21.6 percent of Playtech. According to multiple sources, Sagi sold part of its stake in order to diversify the trust’s investment portfolio.

Earlier this month, the company announced that they will acquire the Consolidated Financial Holdings group (CFH) to boost its position in the financial market. CFH Group will jointly work with Playtech on multi-asset execution, prime brokerage services, liquidity and risk management tools.