d Baazov has significantly reduced his holdings in Montreal-based online gambling company Amaya Inc. after selling 12m shares.

The sale, made in two consecutive trades on the Toronto Stock Exchange and the Chi-X Canada alternative trading system, is worth approximately CAD $267m. This sees his stake in the company fall to 5,605,839 common shares, representing approximately 3.8% of the issued and outstanding common shares.

He received an average price of CAD $22.31 per share, more than the CAD $19 he received from his previous divestiture at the beginning of March totalling 7m shares.

Baazov informed stakeholders that the share sale had been undertaken in order to raise money for “investment purposes”.