Baazov sold the stock on the S&P/TSX composite index for US$ 14 per share, totalling US$ 99 million.
The disposition leaves Baazov with roughly 17.6 million common shares, representing 12.1 % of the company’s issued and outstanding common stock.
Baazov pleaded not guilty last year to securities-related charges following an investigation into allegations of insider trading.
He had proposed to buy Amaya, but walked away from the bid in December.
