Shares in live casino specialist Evolution Gaming slumped by nearly 10 per cent in Stockholm Tuesday after co-founders Jens von Bahr and Fredrik Österberg significantly reduced their stake in the business.

Chief executive von Bahr and chief strategy officer Österberg, who co-founded the business in 2006, have sold 1,798,520 Evolution shares through an accelerated book-building process, equivalent to approximately 5 per cent of the company’s total share capital.

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