Playtech Founder Teddy Sagi Cuts Stake to Less Than 5%

[kreslik.news]

Israeli billionaire Teddy Sagi has sold off a minor chunk of his holdings in gambling software company Playtech (LSE: PTEC). Through a placement by Brickington Trading, Sagi has sold nearly five million ordinary shares, representing 1.6 percent of the listed company’s issued capital, Playtech said in a notice to the London Stock Exchange.

Brickington Trading is a wholly-owned subsidiary of a trust of which Playtech’s founder is the sole beneficiary.

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The regulatory filing didn’t reveal the sale price, but at Tuesday’s closing price of 461 pence per share, Sagi’s may have raised more ... (read more)