Playtech's Teddy Sagi Selling 10 Percent Stake

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There are always different business deals going on in the online gambling world. Big companies buy smaller companies, smaller companies come together to compete better, and sometimes companies just go out of business because of bad results. These changes happen for different reasons, but you can bet that when one of the biggest players in the business makes a big move that there are really good reasons for it. We can only assume that this is the case after some big news has come through about Playtech's ownership and stock.

Teddy Sagi is the founder of Playtech, and he's announced a pretty big piece of news. He's going to be selling 10 percent of his share in Playtech. This share is worth more than $350 million, more than €250 million and more than £200 million. It's a huge sum no matter what currency you're using, and that's no surprise considering that Playtech is one of the two most dominant software developers in the history of the online casino industry. There are probably other reasons for this happening, but he's said that it would allow for Playtech's stock to become more liquid which is a pretty sizable benefit.

Sagi will be selling the stock through his company Brickington Trading. After this is done, he'll still own a 39 percent share of Playtech which is pretty big considering the circumstances. A total of 29.3 million shares will be sold in total with this deal, and that might sound like a lot, but when you consider what each share is worth, it makes a lot of sense. Overall, this is pretty interesting news, but it goes to show that Playtech is continuing to grow as a company instead of just sitting back on their past accomplishments.

Playtech produces software and games for many different types of gambling. Their online casino software suite is known for its extensive selection of games, and their online poker network iPoker has consistently been one of the most popular poker networks on the entire Internet for the complete history of the online poker industry. They also offer software and options for other types of betting, and their software is used by some of the biggest operators in the world. Playtech has shown massive growth every year for the past several years, and their aggressive plans will probably help to keep that going in 2014.

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