Billionaire reduces stake in gambling tech firm
Israeli billionaire and entrepreneur Teddy Sagi has further reduced his stake in technology company Playtech.
Founded in 1999 and listed on the London Stock Exchange, Playtech is a provider of technology, software and services to the gambling and online gaming industries.
→ READ MORE: Teddy Sagi invests £3m in SafeCharge
Globe Invest Limited, the family office of Teddy Sagi, has confirmed that Brickington Trading Ltd has sold five million shares of Playtech for approximately £22.25 million.
The deal was arranged by Credit Suisse Securities (Europe) Limited.
The sale is in line with Sagi's "committed strategy" to diversity his wealth and further expand into property, co-working, eCommerce and other technology ventures.
A Globe Invest spokesperson said: "Teddy Sagi and his family decided to diversify their wealth back in 2016 and agreed on a new strategy of investing in real estate, co-working, e-commerce and new technology ventures.
"This share sale is part of that continuum."