Playtech’s owner among top-6 wealthiest Israelis

Last week an established edition Forbes updated the top list of Israel’s wealthiest citizens. Teddy Saggi - the founder and the owner of the biggest online casino software developer called Playtech - took the 6th place. According to the publishing, last year the businessman had “only” $2,3 billion with a 15th place in the chart. Recently Teddy’s capital doubled and now amounts to $4,4 billion which is 9 places up in the chart.

Such boost is a result of changes in company’s policy. Last year Playtech’s owners got down to business acquisition. Acquisitions of such companies as  AVA Trade, IronFX, Plus500, Markets.com website and Camden Market provide clear evidence for that.

It’s worth mentioning that IronFX company, for instance, which gives access to operation in most countries of the world thanks to its licenses, cost Teddy Saggi around $800. There’s another deal that can be distinguished among “expensive” acquisitions: Camden Market fair worth approx. $130 million.

Each company purchased by Playtech provides benefit and completely justifies its price. For example, AVA Trade holding own a huge database with 20 000 registered clients. Moreover its monthly turnover is evaluated as $55 billion on average.

Needless to expect any slowdown from Playtech’s owners. The fact that the business is on the upswing encourages rising ambitions which means that there’re more mergers to be expected in the nearest future.