Pay revolt at Playtech

GAMBLING software firm Playtech has been hit with one of the biggest shareholder revolts this year over its boss’s pay.

Mor Weizer took home £2.6m in 2018, a year when Playtech’s share price more than halved and it issued a profit warning that blamed fierce competition and a ‘disappointing’ performance in Asia.

Almost 42pc of votes cast by investors at its annual general meeting slapped down the remuneration report. And nearly 41pc voted against its future pay policy.

Last year almost three in every five shareholders opposed the 2017 pay settlement, which saw Weizer pocket £3.6m – a 78pc pay rise.

Playtech said it has since ‘conducted an extensive shareholder engagement and consultation process’ on how much it pays its top team.

Weizer, 42, received an increase to his base salary this year – from £827,000 to £982,000 – though the way he is awarded his bonus has been restructured.

Playtech said: ‘We will continue to engage with investors on these important issues to make further progress.’

Playtech, which was founded in 1999 and counts GVC and Paddy Power among its clients, also faced a rebellion over the reelection of its chairman, Alan Jackson.

Others that have notched up significant revolts this year include software firm Micro Focus, which got a 50pc backlash on its pay report in March, Ocado, landlord Shaftesbury and Barclays bank.