Playtech PLC (LON:PTEC) founder Teddy Sagi has sold his stake in the gambling software firm by offloading his shares worth some US$87mln.
Sagi’s Brickington Trading vehicle said it had sold around 15.2mln shares – close to 5% of the company, Globe Invest said in a statement on Friday.
READ: Playtech issues ‘in-line’ update as Asia revenues stabilise
Sagi, who set the company up 19 years ago, floated Playtech on the London stock exchange in 2006 and it remains a FTSE 250 company today.
Sagi’s exit follows a steep fall in Playtech’s shares after the company spooked the market with a profit warning in the summer.
Shares in Playtech, which have almost halved since the start of 2018, were 0.2% down at 454.50p in mid-afternoon trade.