Evolution Gaming's top shareholder Richard Livingstone is selling stock worth as much as 5.91bn kronor (574m)in the Swedish company, according to deal terms reviewed by Bloomberg.

The British billionaire, who currently owns a 16.4pc stake, is selling 8.5 million shares in an accelerated offering via Morgan Stanley, according to the terms. Evolution Gaming, one of the world's biggest online casino platforms, closed at 695 kronor yesterday, bringing the stock's gains to 140pc this year.

A number of large shareholders have taken advantage of rebounding equity markets to book a profit from so-called 'lockdown winners', or businesses that have thrived as a result of stay-at-home measures.

Evolution, which licenses gaming software, benefited from months of lockdowns across much of the world, as people increasingly rely on online entertainment to fight boredom.

Bloomberg

Irish Independent

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Billionaire Richard Livingstone to cash in his 'lockdown winner' stake in Evolution Gaming - Independent.ie