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Teddy Sagi Sells Holdings at Online Gambling Company Playtech

The Israeli-born businessman founded the company in 1999 and listed it on the London Stock Exchange in 2006

Golan Hazani 10:4025.11.18
On Friday, Israeli-born businessman Teddy Sagi sold his remaining stake in London-listed online gambling software developer Playtech PLC, which he founded in 1999. The 6.4% stake was sold in two beats via Credit Suisse, 5 million shares on November 12 and 15.2 million on Friday, for a total profit of around 90 million pounds.

 

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Playtech, which is the largest company in its domain, lost around 50% of its stock value over the past year due to increased competition, leading it to issue a revenue warning in July. The company has a current market valuation of around $1.4 billion pounds.

 

Teddy Sagi. Photo: Orel Cohen Teddy Sagi. Photo: Orel Cohen

 

 

Sagi listed the company in 2006, selling shares to the amount of $291 million and keeping a 50% stake. Those shares were sold in six beats since 2014, netting him $1.936 billion including Friday’s sale, and around $2 billion including Playtech dividends.

 

The Israeli magnate turned to real estate in recent years. In March 2014 he shelled out 400 million pounds for London’s Camden Market, and since then acquired additional London real estate. He also founded shared office venture Labs, and is a controlling shareholder at London-listed cybersecurity company KAPE Technologies PLC and payment technology company SafeCharge International Group Ltd.

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