Teddy Sagi – The Scandalous Founder Of Playtech
While wide masses admire the history of the life of steve jobs, in the gambling business there are their icons for which you can be equal. Teddy sagi before reaching the age of 30, founded one of the largest software development companies for gambling, and in 2020 its condition was estimated at $ 5 billion. Former fraudster became an exemplary businessman and family man.
|year of birth||1971|
|place of birth||tel aviv, israel|
The beginning of the way is the first capital and problems with the law
Teddy sagi was born in the northern part of tel aviv. His father is called ami, and mother – lizi. Most of the childhood took place in the area of shikun lameman, where relatively rich people live. At that time, his father ruled the travel agency, and the mother provided services in the field of cosmetology.
Our hero did not go in the footsteps of the parents and chose his way. Teddy sagi preferred to study the stock market. In the 90s, he began to trade shares and other financial instruments. To increase profits, sagi went on collusion with a group of bank managers. They coordinated their actions, engaged in insider trading and discharged securities together.
Speculations lasted for long, in january 1996 a successful financier recognized the guilt and began to cooperate with the investigation. It helped to avoid serious punishment – teddy sagi spent 9 months in prison and paid a fine of 300 thousand. Shekel. Machinations in the financial market allowed the first capital, but the violation of the law will still be remembered in the future.
Teddy sagi – israeli wolf with wall street
At the dawn of gambling business online
In 1999, teddy sagi creates playtech – provider for gambling. In 2001, the company is one of the first produces a product for online casino. As a result of playtech services, famous british operators began to use:
- William hill.
In 2006, the company’s securities reached aim under the london stock exchange – the cost of one share was 273 pounds, and now – 457 with a total capitalization of 1.37 billion. Playtech remains one of the leaders in the development of software, is competing with it, except that other giants in the face of netent and microgaming.
Approach to business
Success in the gambling sphere allowed teddy sagi to become a billionaire. He took the 6th place in the list of the richest israelis according to the forbes version at all because of playtech, how much because of the approach to business. He has always thought about diversifying risks and scaling, so regularly his team created new products and absorbed other companies. This allowed to expand not only horizontally, but also vertically.
- In 2011, playtech bounces in teddy saga pt turnkey services for 125 million pounds.
- In 2013, pokerstrategy is added to the list of assets for 49.$ 2 million – the site was used by 7 million players.
- In 2014 playtech buys a lottery aristocrat lotteries for 10.5 million euros.
- In 2015, the list of successful deals replenishes yoyo games – 10.65 million pounds.
- In 2016, playtech buys quickspin – the total transaction amount is 50 million euros.
- In 2018, the integration of featurespace machine learning to identify real-time fraud.
Problems with the law made itself felt
Regulators are always monitored for large transactions, so when concluding one of them, teddy sagi had problems. In 2015, playtech announced the purchase of a british international financial company plus500 for 460 million pounds – this is the largest transaction for the history of the provider. Collected such an amount succeeded by teddy saga relations. He attracted other companies as partners.
Shareholders of playtech and plus500 voted for merger. Companies also managed to get permission from israel and cyprus regulators worthout any problems. Last frontier – management on financial regulation and supervision of great britain. Fca eventually began to delay the process that already caused suspicion. The media remained without details, since the dialogue between the regulator and playtech by law was confidential.
According to one of the versions, fca wanted to carefully familiarize themselves with the business provider and get as much details as possible until the end of the transaction – the merger was to end in november 2015. However, playtech did not have time to provide all the information on time, so the guide refused to purchase plus500. Part of the media pointed out some concerns that teddy sagi causes the british regulator. Fca does not want to allow a former fraudster to manage a large financial organization.
Care from playtech
Gradually, teddy saga reduced his stake in playtech. In 2016, he sold 12% of the shares for $ 400 million, and after 2 years he got rid of the remaining securities for 88 million. It was forced to part with her brainchild.
The american argued that teddy sagi’s dark past was impossible to hide, and in the future regulators will not allow to embody all the company’s ambitions. In the short term, his forecast was a detrimental – after the departure of the founder, the promotion of playtech began to fall. If in 2017 they cost more than 900 pounds, then by march 2020 quotes dropped to 150.80 pounds. The pandemic threw the rescue circle, because due to an increase in demand for gambling stocks began to grow again.
Basic investments teddy sagi
While playtech continued to scale, its founder was also not sitting on the spot. The entrepreneur actively investing funds in different directions:
- Teddy was a majority shareholder of safecharge with a share of 68%. In 2019, he concluded a deal with nuvei corporation for the sale of a company for 889 million.
- In 2012, sagi bought a crossrider startup for 37 million dollars. Later, the company went to the london exchange, and its capitalization amounted to 250 million. In march 2018, rebranding occurred and the organization changed the name on kape technologies plc.
- In 2014, teddy became the owner of camden market. He bought half at bebo kobo for 400 million pounds, and the second part of richard caring and elliott bernard for 2.3-2.6 billion shekels. According to the results of 2015, this transaction has become the largest ipo on the london stock exchange.
- In 2015, the list of assets for 43 million dollars replenished stucco media site development startup.
- In the same year, teddy bought glispa’s marketing firm for 32 million euros.
- In 2018, saga acquires matomy media for $ 7.5 million.
From 2010, a businessman lives with his wife yael rough – she won miss israel title in 2006. Six children have a couple of children. Older daughter 14 years old, and the rest from 10 months to 7 years. Teddy sagi himself in one of the interviews to the israeli media admitted that she dreams of ten children.
Most of the time the family spends in a private house in the resort town of herzliya between tel aviv and netanya. The total area of the plot is 2 thousand square meters. On the territory there are a wine cellar, a hall with simulators and an elevator to the beach. In addition, the entrepreneur has 2 penthouses in the same area, apartments in tsamert towers and london knightsbridge.
"You must understand that every billionaire is just a person. We are my family – we are ordinary people. Most importantly – family and health ».
Teddy sagy family prefers to lead a quiet lifestyle. Children are engaged in ordinary things. They teach lessons with mom, go to pizzeria with dad. There is not a single photo of teddy with children.