Teddy Sagi sanctions full cash out from Playtech Plc

Representatives of Playtech enterprise founder Teddy Sagi, have today disclosed that the Israeli billionaire has sold his entire remaining shareholding in the FTSE250 technology group.

The family office of Teddy Sagi informs that personal investment fund ‘Brickington Trading Ltd’ has approved the sale of 15,193,489 shares in Playtech Plc targeting a £85-90 million transaction, administrated by Credit Suisse Securities.

Updating the media, Sagi representatives detail that Playtech’s founder seeks to diversify his investment portfolio beyond gambling, investing in real-estate, e-commerce and next-generation technology ventures.

“Over the last few weeks, Brickington Trading Ltd has been working on this divestment. The sale follows a smaller trade executed on the 12 November and is in line with our long-term diversification strategy”.

Earlier this week, speculation had mounted relating to Teddy Sagi’s long-term investment/commitment in Playtech Plc, as renowned US activist investor Jason Ader increases his shareholding in the struggling FTSE250 enterprise.

Signing off as a Playtech stakeholder, the company he founded in 1999 and listed on the London Stock Exchange in 2006, Sagi issued the following personal statement:-

“My focus for the last few years has been in real estate, co-working, service apartments, e-commerce and advanced technology, cyber-security and innovation companies.”

“I consider myself part of Playtech’s successful history, and I am proud of what we have accomplished together since its inception. I wish it every success in the future”.