David Baazov, the former chief executive of Amaya – owner of the PokerStars brand – has this week disposed of shares in the gaming company worth CA$267.72m (approximately €188m).

Baazov offloads €188m in Amaya shares

The shares disposed off equate to 8.2 per cent of all issued common shares in the Canadian company.

Following the sale, the former CEO, who denies accusations of insider trading in the deal that saw Amaya take control of PokerStars parent Rational Group, retains a 3.8 per cent shareholding in the company

In a statement, Baazov said he continues to own common shares “for investment purposes and may, from time to time, dispose of some or all of the existing securities he owns”.