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This Online Gambling Billionaire Just Made Another £329 million Selling Small Stake in Co

Written by:

Guest

Published on:

Nov/30/2016

One in a small group of online gambling billionaires just got a little richer this week by selling a mere 12 percent stake in his FTSE 250 trading company and gaining £329 million as a result.

Israeli billionaire Teddy Sagi founded the Internet gambling software powerhouse firm Playtech. He initially offered to sell 32.3 million shares, or a 10 percent stake but instead raised the offering by two percentage points due to what he called “strong investor demand” Sagi plans to focus more on property investments.

Sagi now owns just under 22 percent of the gambling business and if you do that math, that would equate to around another £600 million if he were to sell the remainder today.

Playtech shares today fell 8.71p to 851p

- Aaron Goldstein, Gambling911.com

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