Teddy Sagi Sells Off 12% of Playtech Stock

This story was published more than 6 years ago.

Playtech Co-Founder and major shareholder Teddy Sagi has sold off 12% of his shares in the online gaming company, generating $10.60 per share.

Sagi's company Brickington Trading Limited facilitated the sale, which saw 38.7 million shares sold. The combined sale price of the shares brought in more than $410 million to the executive. With the sale of the shares Brickington will still own 21.6% of the company.

Playtech confirmed the deal, and revealed that Brickington agreed not to sell any more shares of Playtech for the next six months. The share sale is expected to complete by the end of the week.

In related news, Playtech revealed that they have purchased a 70% controlling interest of Consolidated Financial Holdings.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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2 December 2016 - 12:11am

I'm not sure what's exactly the reason for this move but obviously Teddy Sagi decided it's the right time to sell part of his shares, is that because the price is right at the moment or he needs some available funds for some other of his projects is still mystery for me.