Teddy Sagi Offloads Final Stake in Playtech

Playtech has just filed a regulatory announcement via the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (LSE) real-time news service. The company which has been representing the interest of Teddy Sagi in Playtech, Brickington Trading Ltd, has concluded selling his stake.

The final batch of the shares of the founder has now been offloaded to the market. Recent weeks have been difficult for Playtech investors as the value of the company was cut in half since the start of the year.

The Israeli billionaire has been diversifying his business over the past several quarters. He announced that he is planning to sell off his holdings in 2017. Since then the stock has been under pressure.

Timeline of Teddy Sagi’s Stake Selloff

The first major move by Teddy Sagi came in November if 2016. At the time he cashed in close to £330 million as he sold 12 percent of the company’s float. In 2017 he announced that another £400 million worth of shares is on the table.

The real estate market has been one of the focuses of Sagi in recent years as he acquired London’s, Camden Market. In addition to that, he has been investing in a co-working space company in London and Tel Aviv.

The Israeli billionaire also made his first foray into Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term in August of this year with an investment in Distributed Lab.

Back in September, Sagi’s company Northernstar Investments increased its stake in SafeCharge. He purchased about £13 million worth of shares from a company related to the CEO and co-founder David Avgi.

Earlier this month, Sagi’s Brickington Trading sold a relatively small stake of its holdings in Playtech. At the time the value of the transaction was close to £20 million.

The sale price of the latest batch has not been revealed. According to current market prices, the value of the shares could have netted Sagi close to £70 million.