Playtech founder Teddy Sagi has sold around one-third of his stake in the online gambling technology provider.

On Tuesday, Playtech announced that Sagi’s trading arm Brickington Trading Ltd planned to sell 32.3m Playtech shares, representing 10% of the company’s issued share capital.

On Wednesday, Playtech announced that Brickington had sold 38.7m shares, or 12% of Playtech’s issued share capital. The sale reduces Sagi’s Playtech stake from 33.6% to 21.6%, but he remains the company’s single largest shareholder. The sale marks the first time Sagi (pictured) has unloaded any Playtech shares since selling £212m worth in 2014.

Brickington has promised not to sell any more shares for at least 180 days. Since the sale reduced Brickington’s stake to below 30%, Brickington has surrendered its right to appoint two non-executive directors to Playtech’s board.