Founder of Online Casino Software Giant Playtech a Young Israeli Billionaire

Written by Alex N. on 2011-05-18 at 20:55
Israeli gambling laws - GamingZion
World renowned online casino software company Playtech was started by Teddy Sagi, a young Israeli who today is a billionare. The software giant provides solutions for hundreds of gaming companies including online casinos in Israel.

Not yet 40-years-old, Sagi is estimated to be worth $1.5 billion, and he has his intuition to thank. He founded the company over a decade ago and had such passion for its future that he managed to buy his partner’s shares just before Playtech started making millions.

Playtech remains one of the leading online casino software providers and enjoys healthy constant growth. Although registered in Cyprus the company provides software for casinos operating fully in compliance with Israel gambling laws. On top of that Playtech shares are traded on London’s Stock Exchange (PTEC) and are estimated at almost $2 billion.

Sagi’s story is truly one of self-made success. Born as the only child of a businessman and a cosmetician he made his way up to own one of the most successful companies in online gaming industry. After spending most of his time in England and Cyprus he plans to return to Israel and has already started to branch out beyond his primary business.

According to online gambling news in Israel, among others Sagi owns a chain of 3 and 4 star hotels in Germany, several websites dedicated to online foreign currency exchange and he recently purchased two storeys of Tel Aviv’s Platinum Tower. Teddy Sagi is considered a fierce and cautious businessman, often found to go deep into negotiations over every penny.

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