Who is ‘Teddy Sagi’?
Born in Tel Aviv in Israel, Teddy Sagi is an entrepreneur who founded Playtech in 1999. The company went on to launch its first casino-based product in 2001 and has since become one of the biggest players in the world of gambling software. Specialising in designing, developing and licensing software for both web and mobile applications, Playtech has a number of high profile clients within the gaming industry including William Hill and Ladbrokes.
‘Teddy Sagi’ Explained
Since the launch of Playtech, Sagi has become a major player in the world of online gambing and has also become a billionaire, with Forbes estimating his value as being in the region of $3.3 billion (correct at time of writing, 21/04/17).
In the early days of Playtech, Sagi was keen to make sure that their software always advanced along with the technology. The success of the company was largely put down to their innovative software solutions as it allowed them to stand out from their competitors. The company was also early to the market and managed to launch several successful products including a network dedicated to online bingo. Their software allowed companies to use live dealers, something which was revolutionary at the time.
Sagi was also on hand to launch the first online poker network through Playtech. The network was called iPoker and is still in use with online casinos today. They were also one of the very first companies to offer up mobile capabilities, with Sagi recognising the fact that gambling would soon be available on mobile phones. In 2006, Sagi floated the company on the London stock exchange, where it was valued at £550 million. Today, Sagi still owns roughly a third of Playtech after selling the rest of his shares to enable him to concentrate on other investment opportunities. The company currently employees more than three thousand people across Europe and Asia.