Teddy Sagi Sells Off 10 Percent of Playtech Shares
The largest shareholder and founder of the world’s largest online gambling provider Playtech is selling off a major share of his holdings in the company. Teddy Sagi who owns Brickington Trading which is the largest shareholder in Playtech is selling off 32.3 million shares of the company.
This represents 10 percent of the company’s float and leaves Sagi holding 33.6 percent of the voting rights of Playtech. Brickington Trading has agreed to not sell any more shares for a period of 180 days.
The idea being the offload of the shares is for Sagi to diversify his investment portfolio but it will still mean that he is the largest shareholder of the company with about 23 percent. Sagi’s fortune is estimated at around £2.4 billion before the sale.