After 19 years “together” Playtech and Teddy Sagi, its founder have decided to end their love story. The Israeli businessman, Teddy Sagi has sold the last shares that he had in Playtech, the group that he founded. In the 2000s, Playtech the online games developer was one of the leading developers along with its main competitor Microgaming. For several years, Playtech ruled the world of casino games before other developers such as Netent and Betsoft appeared. Teddy Sagi has left to pursue other projects. So he has sold the remainder of his shares and hit the jackpot.
The Playtech group, an iGaming leader in the 2000s, has lost some of its grandeur but still remains a quality developer. Live Dealers Casino brings you more on this amicable divorce between its founder and a main name in online gaming.
Teddy Sagi leaves Playtech to pursue other activities
The billionaire Teddy Sagi has sold the 15,193,489 shares that he held in the Playtech group. His Brickington Trading holding company has dealt with this financial transaction that has put an end to Teddy Sagi’s involvement in the empire that he founded. Now, Playtech will “stand on its own two feet” and Teddy Sagi will concentrate on other activities in particular in property, e-commerce or cyber-security. This incredible businessman has many projects lined up in particular in London. Having acquired Camden Market Holdings, owner of Camden Market in London, Stables Market and Camden Lock Developments in 2014, Teddy Sagi has just bought Mobfox, a didital advertising agency for mobiles. In 2014, this company was bought by Matomy Media Group for 17.6 million dollars. Last month, Teddy Sagi acquired the company for only 7.5 million dollars. A good financial transaction for the businessman who will make a good profit from it in a few years time.
For the past two years, Teddy Sagi gradually lessened his involvement in the Playtech group. He stated: “ I consider myself as having been part of Playtech’s success story and I am proud of what we have achieved together since its creation. I wish it every possible success in the future.”
Playtech, an (ex-) giant in online gaming
At the end of the 1990s, when games appeared on the internet, the best online casinos offered Playtech games, which were to e-Gaming what Ferrari is to the motor industry. Just two developers shared most of the market : Playtech and Microgaming. Then over the years several developers such as Netent and Betsoft appeared. Moreover, it’s regrettable that Playtech didn’t invest in 3D technology in contrast to Netent which has it as its main area. Part of the Swedish developer’s success comes from its 3D graphics and from its vast range of games available to internet users. It’s the same for live dealer tables. Playtech’s roulette, baccarat and blackjack tables were accessible on the internet well before those of Evolution Gaming or Authentic Gaming. However, these developers formed partnerships with land based casinos and surged ahead. As regards live tables, these developers along with Betconstruct and Ezugi made their name thanks to the quality of the HD images, the range of tables and rapid streaming.
In the online gaming world, whether it’s slot machines or table games, developers need to constantly innovate to please online players.