Published
Financial

Teddy Sagi continues to offload Playtech shares

Tedd

playtechteddy
y Sagi’s holding company, Brickington Trading Limited is set to sell its 10.1% stake in online gambling giant Playtech.

In an announcement after the market had closed, Playtech revealed that Sagi was to sell approximately 32 million Playtech shares in a bid to diversify his investments and to help finance a significantly increased focus on real estate.

It was recently announced that Sagi purchased a 29% stake in Market Tech Holdings, the real estate company behind London’s Camden Market.

The sale will mark the first time that the Israeli billionaire has owned less than 10% of the company that he founded back in 1999, reducing his hold in the company to 7.7%.

Playtech shares closed yesterday at £9.93, after setting an all-time high record of £10.20 earlier in the day. The proposed share sale brought in around £337m to Brickington and Sagi.

The sale will terminate Sagi’s role as a special major shareholder due to the fact that Brickington Trading’s hold in the company has fallen below the 15% threshold. However, Sagi will retain an advisory role at the multi-million pound company.

Moreover, following the sale, Sagi’s firm will be barred from selling any additional shares for at least 180 days.

The recent sale follows another stock offload back in March, where Sagi sold off £113m worth of shares to Boussard & Gavaudan.
Premium+ Connections
 
Premium

Lynon

 
Premium

GammaStack

 
Premium

Digitain

 
Premium

RISK

 
Premium

1xBet Partners

 
Premium

Galaxsys

 
Premium

PIN-UP Partners

 
Premium

Imagine Live

 
Premium

Revsharks

 
Premium

Sport Generate

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...