Playtech Cashes in £176m on Plus500 Stake: The Full Story

[kreslik.news]

Playtech has just announced that the company sold its stake in Plus500. The gaming and financial technology giant has been holding a 9.99% stake in the retail brokerage since 2015 when it attempted to take over the company.

At the time, the effort fell apart, that said, the 11.4 million shares in Plus500 net Playtech a £176 million ($227 million) gain. The gaming and financial technology giant sold its stake at 1,550 pence per ordinary share.

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According to the official announcement, the proceeds from the sale will be used for general corporate purposes and debt ... (read more)