On 22 October 2008, Playtech announced that it would acquire private assets from Teddy Sagi in return for $250 million. Īfter the passage of the Unlawful Internet Gambling Enforcement Act of 2006, the company's stock suffered a one-day fall of over 40%.
In March 2006, Playtech was floated successfully on the AIM market at a valuation of approximately US$950 million (approximately £550 million). Playtech launched its first casino product in 2001, and since then it has grown to become the world's leading and largest international designer, developer and licensor of web and mobile application software to the digital gaming industry, whose customers are most of the blue chip companies in this industry (William Hill, Ladbrokes, Bet365 in the UK, Snai and Sisal in Italy, etc.), as well as governments and regulated agencies. Playtech was founded in 1999 by the Israeli entrepreneur Teddy Sagi in Tartu, Estonia, with partners from the casino, software engineering and multimedia industries.
It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company provides software for online casinos, online poker rooms, online bingo games, online sports betting, scratch games, mobile gaming, live dealer games and fixed-odds arcade games online. Playtech plc is a gambling software development company founded in 1999.
