LONDON - Playtech PLC (LSE:LON:PTEC), a prominent gambling technology company, disclosed that Fabio Schiavolin, CEO of its subsidiary Snaitech, has exercised options and sold a significant number of shares. On Wednesday, Schiavolin carried out the transactions involving 70,000 ordinary shares under the company's Long Term Incentive Plan established in 2012.
The transactions took place on the London Stock Exchange (LON:LSEG)'s main market, with the shares being sold at prices of £7.488372 and £7.480103, respectively, for two equal tranches of 35,000 shares. The total proceeds from the sale amounted to £523,896.63.
This move by a key management personnel comes at a time when Playtech has been actively involved in expanding its reach and consolidating its position in the gambling industry. The company, which was founded in 1999 and is listed on the London Stock Exchange, employs over 7,900 people across 20 countries.
Playtech is known for offering a range of gambling software and services, including casino, live casino, sports betting, virtual sports, bingo, and poker. It has been a pioneer in omni-channel gambling technology with its Playtech ONE integrated platform, which provides data-driven marketing, single wallet functionality, and responsible gambling solutions.
The company's technology is provided on a business-to-business basis to some of the industry's leading online and retail operators, as well as to land-based casino groups and government-sponsored entities like lotteries. Additionally, Playtech owns and operates Snaitech, which is a major player in sports betting and gaming in both the online and retail sectors in Italy.
This notification of the share sale is in line with the requirements of the UK Market Abuse Regulation. The information is based on a press release statement and has been officially communicated to the public.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.