Playtech profits from Sportech sale | Yogonet International
Mor Weizer resigned as CEO for Playtech

Playtech profits from Sportech sale

(UK).- After spending approximately us$ 15.3 million in January of 2010 to purchase a 9.9 % stake in pool and tote sportsbetting supplier Sportech, Playtech has now sold half of this investment. As a result of the sale, Mor Weizer, Playtech
2013-06-26
United Kingdom
Reading time 5:18 min
(UK).- After spending approximately us$ 15.3 million in January of 2010 to purchase a 9.9 % stake in pool and tote sportsbetting supplier Sportech, Playtech has now sold half of this investment. As a result of the sale, Mor Weizer, Playtech

 

Isle of Man-based Playtech purchased 19,881,020 ordinary shares in Sportech for 50 pence each just over three years ago but offloaded 9,933,270 of these on Monday to post of a profit of almost us$ 6.1 million.

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

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