Playtech Profit from Sportech Share Sale

Isle of Man based igaming software supplier Playtech have sold half their share of pool and tote sports betting supplier Sportech, posting a sale profit of almost four million pounds – GBP.  Playtech purchased shares on London based Sportech in 2010, purchasing a 9.9% stake in the london based sports betting company. Playtech acquired 19,881,020 ordinary shares at 50 pence (UK) per share.

Playtech announced last Monday that  it had offloaded ,933,270 Sportech shares. The company further announced that the sale had generated a profit of almost four million pounds. It is thought that Playtech will offload the rest of these shares in the coming months.

As a result of the sale of Sportech shares, Playtech CEO Mor Weizer and the man responsible for representing the company on Sportech’s board of directors, has resigned his position as Non-Executive Director with immediate effect. Ian Penrose, Chief Executive Officer for Sportech.“I would like to thank Mor for his involvement over the last two years and he leaves us with our best wishes,” said