The Casino Inside Magazine wishes to present to you a series of personalities from the international gambling world, their stories, the world they live in and – why not? – even the mistakes that helped them raise their empires. Considering that the gambling industry is surrounded by mystery and attraction, we shall shed some light over this world’s enigmas and present to you Teddy Sagi – the founder of PlayTech.
Israeli by birth, but formed by the British culture in his later years, the billionaire Teddy Sagi is the founder of PlayTech, the world’s largest online gaming software supplier. The business he started in 1999 was worth €630 million in 2015, with a net profit of $136 million (source: advfn.com). A man with initiative, Sagi didn’t settle for only one business – he also created Market Tech Holdings, a real estate center located in London, whose main attraction is by far the Camden Market, helding pubs, shops and restaurants. Sagi also own two thirds of SafeCharge – an online processor of payments having as main clients the gambling and betting companies – and two thirds out of Crossrider, a company which uses big data to analyze digital advertising.
Who is Teddy Sagi?
Sagi has worked tremendously for his $3,5 billion fortune according to Forbes, later on becoming the so called “spoilt child of the gambling industry”. The 43 years old bachelor, raised in the Shikum Lamed neighborhood has been often associated with names such as the ex Miss Israel, Yael Nizri with whom he has 4 childern with. His father was the owner of a travelling agency and his mother worked as a beautician. They raised Sagi to believe in values such as integrity and dedication. His policy regarding business is perhaps even more interesting than his personal life, however. He invested £500 million in the PlayTech Company in order to allow PlayTech to increase its presence in the transactions of derivates market such as “contracts for difference”*. Sagi is one of the ten richest Israeli, and he usually spends his time between Great Britain, Israeli, Cyprus, The United States and Germany. Both an entrepreneur and an investor, Sagi is well known for the statement: “To be a billionaire, first you must make millionaires in your team.”
PlayTech – The Crown Jewel
Being possibly the biggest supplier of online gaming software in the world, PlayTech is by far the biggest accomplishment for Teddy Sagi. He invested tremendous amounts of money in building this company, only recruiting the best mathematicians and software developers in the world. Sagi made sure that his technology was always going to be on top, whether from a legal point of view or a concerning the economic market point of view. Consequently, the PlayTech Company deserves its worldwide fame of offering the most innovative software on the market. The company has developed over time, launching iPoker as well, a branch which develops software for online poker, creating optimization for mobile phones and earning clients such as William Hill, Bet365, Titan and Paddy Power.
Although he went from having a nice, quiet childhood in a neighbourhood in Israel to being the owner of a gaming software technology empire quite fast, Teddy Sagi is the perfect example of what can be achieved by tenacuty. His life story shows us that the software technology gaming industry will be owned by those who know how to claim and also conquer it.
* Contracts for difference are a form of derivative trading that enable you to attempt to net a potential profit by speculating on the rising or falling prices of fast-moving global financial markets (or products) such as shares, indices, commodities, currencies and treasuries. (www.cmcmarkets.com)
**Internet Billing is a system is the electronic supply of invoices or bills and appropriate information by a company to the customers.(source:payspacelv.com)
***Forex Market is a commonly used abbreviation for “foreign exchange,” and it is typically used to describe trading in the foreign exchange market by investors and speculators.