If you’ve ever played online casinos or betting games, there’s a good chance you’ve been using something developed by Teddy Sagi’s company Playtech. He also happens to own most of London’s Camden Market.
The Israeli born entrepreneur is estimated to be worth more than three and half billion dollars and at the age of just 46, he’s still got a lot to offer.
A serial entrepreneur with a habit of making shrewd investments, marks him as one of the most successful entrepreneurs in the world. Sagi’s involvement with the software company Playtech has transformed the world of online gambling sector over the last couple of decades.
Sagi was born in Tel Aviv in 1972 to fairly prosperous parents. He grew up in and around the Shikun Lamed district and learned the value of hard work early on in life. His father owned a travel agency and his mother was a successful beautician and cosmetician.
Sagi had spent time with his father learning about the stock market and made some success of buying and selling real estate. By the time he was ready to invest in the online world he had a good deal of experience to fall back on.
One of his earlier ventures ended with the breakup of the company but it undoubtedly gave him the financial boost to move onto other, more profitable projects.
After his earlier investments and ventures, Sagi moved onto online gaming and betting in 1999 and founded Playtech, a company that today is uniquely synonymous with the industry. From the start, his plan was to develop systems that businesses such as casinos could use and the constant desire to innovate and stay ahead of the competition has served the company well, even now.
He employed the best people money could buy which meant getting the business off the ground took a lot of venture capital. It worked spectacularly. As the burgeoning online market began to develop, so did Playtech. Clients today include some very well-known names in the betting and gambling industry including William Hill, Paddy Power and Bet365.
The company has, since the beginning, been at the forefront of change. They were the first to offer mobile gaming in 2005 as people began using their smartphones more and more. A year later, and just six years after the company was founded, Playtech went on the stock market and was valued at $768 million. Since then, the company has produced a wide range of games which are noted for their ease of use and variety. The business has expanded and now employs over 3,000 people worldwide with multiple offices across the globe.
In 2016, Sagi sold a 12% share in Playtech for around $400 million but still owns a controlling share of 21%.
Expanding the Empire
Since the success of Playtech, Sagi has begun seriously diversifying his assets and looking at expanding his empire. In 2014, he paid $400 million to invest in Camden Market, one of London’s most iconic landmarks. He now owns 4 out of the 6 most important sections of the market and continues to invest in London property. He’s also putting another $300 million into developing the market.
The other area that Sagi has invested heavily is in technology, particularly software, as you might expect after the success of Playtech. He is a majority shareholder of gambling credit card clearing company SafeCharge and now owns digital development platform Crossrider. The entrepreneur obviously has an eye for start-up companies and includes Glispa, an advertising business, and Stucco Media, an ecommerce company, in his current portfolio. This has seen his personal wealth grow to some $3.6 billion and all by the age of 45.
Sagi currently lives in one of Israel’s most expensive districts, Herzliya, in a $41 million home. He is married to Yeal Nizri and has four children.
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