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
For daily updates, subscribe to our newsletter by clicking here.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.
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.