Shares worth £113m sold by Playtech Founder

Teddy Sagi, the billionaire co-founder of Playtech, has sold his shares for the second time, within the last six months. The latest sale has been estimated at £113m, and was 4.1% of Sagi’s stake in Playtech. The shares were sold to a French company Boussard & Gavaudan Investment Management.

Last time Sagi sold his shares was in November, when he sold 12% of his Playtech shares. The sale was completed as a part of lock-up agreement. This agreement secured confirmation that Sagi can not sell any more shares until May 2017. Sagi had nonetheless received a consent from UBS, and the original agreement had come with some ‘customary exceptions’.

Even with Sagi’s stakes rapidly decreasing in amount, Playtech is going strong, and recently also tapped into the Romanian market, and even Czech online casino, as the first game supplier. The company is also doing well revenue-wise, having topped it up by 21% this year. Playtech’s year-over-year revenue has been reportedly €708.6 million this year.

With his interests diverting from Playtech, there have been news reports of Sagi focusing now on the real-estate market, together with co-working sector. He has previously purchased the Holborn Links Estate in London, and according to news reports, is now planning to set up creative centers for start-ups and entrepreuners in London.