Mark Blandford sold 2,500,000 ordinary shares in the company at 260p per share. Following this transaction, he now holds a 3.83% stake in the business.
“I have had more than 90 per cent of my wealth tied up in one company for more than eight years. This is just a tiny readjustment of my assets. I am still absolutely committed to Sportingbet and its continued success,” he said.
Since buying Paradise Poker, shares in Sportingbet have raced to highs of 349p from 100p. In the past month have fallen back to around 260p, on fears that the revenues generated from online poker have been inflated.
Blandford denied that his share sale was a sign of imminent bad news.
Calculators
