But how did the Israeli-born iGaming mogul come to own\nLondon\u2019s second most popular tourist attraction? <\/p>\n\n\n\n Born in 1971 in Tel Aviv, Israel, Teddy Sagi was raised in\nthe Lamed neighborhood in the northern part of the city. <\/p>\n\n\n\n The child of a travel agent and beautician, Sagi learned from a young age the importance of determination and hard work. <\/p>\n\n\n\n However, his career path would entail much more complication and controversy than booking vacations and selling makeup. <\/p>\n\n\n\n It\u2019s safe to assume that Teddy had a relatively carefree childhood, given that we don\u2019t know much about it. <\/p>\n\n\n\n As the age-old saying goes, \u201cno news is good news\u201d \u2013 that is, until the news of Sagi\u2019s run-in with the law in 1996. <\/p>\n\n\n\n Aged 24, a charge was brought against him for grave deceit,\nbribery and insider trading. <\/p>\n\n\n\n Until then, Sagi had been making money through real estate deals and stock market investments. <\/p>\n\n\n\n After being found guilty of manipulating bond prices two years prior, he served a nine-month prison sentence.<\/p>\n\n\n\n Although his time in prison was a blot against his otherwise\nclean slate, Teddy\u2019s trading experience allowed him to spot a gap in the market\nof internet-based companies. <\/p>\n\n\n\n Armed with a drive for success and extensive market research,\nSagi decided to capitalize on the ever-growing phenomenon that was the\ninternet. <\/p>\n\n\n\n In doing so, he laid the foundations for one of the world\u2019s\nbiggest and most profitable gambling software companies.<\/p>\n\n\n\n Sagi founded Playtech<\/a> right before the turn of the century (and before he turned 30). <\/p>\n\n\n\n At the time, there wasn\u2019t a lot of scope for online gaming.\nBut Sagi saw an opportunity and ran with it. <\/p>\n\n\n\n In 1999, Playtech\u2019s development hub was established in\nTartu, Estonia, and its headquarters opened in Tel Aviv, Israel. <\/p>\n\n\n\n Hiring only the best and most accomplished mathematicians,\ndevelopers, and engineers, Sagi was determined to create a platform that would\noutperform any of its competitors. <\/p>\n\n\n\n Rather than improving his software as revenue came in, Sagi\naimed to release a premium and innovative platform right from the get-go.<\/p>\n\n\n\n After promoting the company from a modest booth at industry\ntrade shows, Playtech launched its first casino platform in 2001. <\/p>\n\n\n\n From the offset, Sagi\u2019s hard work and investment paid off. <\/p>\n\n\n\n Conscious of its innovative software and exclusive back-office features, operators across the industry wanted to get their hands on Playtech\u2019s powerful platform. <\/p>\n\n\n\n Such high demand allowed Sagi to charge a premium for the service, something many of his competitors could not do. <\/p>\n\n\n\n With revenue pouring in from all sides, Playtech had the cash flow to begin investing in other technologies and expand its already impressive iGaming platform.<\/p>\n\n\n\n As the noughties rolled on, gambling sites gradually began establishing a firmer online presence. <\/p>\n\n\n\n Taking advantage of this rising trend, Playtech launched its\nbingo solution in 2003. <\/p>\n\n\n\n Though it was sparse at first \u2013 offering only a 75-ball\nvariation \u2013 it was the steppingstone to Playtech\u2019s milestone acquisition of the\nVirtue Fusion bingo platform seven years later.<\/p>\n\n\n\n Similarly, the early 2000s saw a spike in the popularity of online poker<\/a>. <\/p>\n\n\n\n One particular catalyst came in the form of Chris Moneymaker<\/a>, the 2003 winner of the World Series of Poker Main Event (and the owner of the most appropriate surname). <\/p>\n\n\n\n The full-time accountant and part-time amateur poker player\nmade headlines after qualifying for the event via an online poker site.<\/p>\n\n\n\n The site in question was the (then) little-known poker provider, PokerStars.<\/p>\n\n\n\n Thrust into the spotlight and dominating the headlines, poker had suddenly become the \u2018it\u2019 game, and Sagi saw an opportunity to capitalize on it. <\/p>\n\n\n\n By pooling together hundreds of players in a central\nnetwork, Teddy sought to revolutionize the game. Thus, in 2004, Playtech\u2019s\niPoker network was launched. <\/p>\n\n\n\n By the following year, the iPoker network had attracted\nthousands of loyal players. <\/p>\n\n\n\n Aiming to expand on this success and generate more capital\nfor further business acquisitions, Playtech became a publicly-traded company on\nthe London Stock Exchange in 2006. <\/p>\n\n\n\n Though this occurred on the AIM<\/a> \u2013 the LSE\u2019s secondary market \u2013 it opened with a valuation of around $768 million.<\/p>\n\n\n\n Though the company enjoyed exponential growth for the first few months of trading, the passing of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA<\/a>) threw a spanner in the works. <\/p>\n\n\n\n As Playtech lost the US market overnight, which was the\ncompany\u2019s biggest source of revenue, shares in the company fell by 40 percent\nin a single day, and many companies began to formulate an exit strategy. <\/p>\n\n\n\n However, Sagi saw an opportunity to turn catastrophe into\ncash.<\/p>\n\n\n\n Instead of fleeing the market, Playtech focused on\nacquisition. While many companies were looking to sell, Sagi was in the\nbusiness to buy. <\/p>\n\n\n\n Subsequently, he added Virtue Fusion to his portfolio in 2010. <\/p>\n\n\n\n This acquisition of the popular white-label bingo provider allowed Playtech to expand its bingo platform tenfold, becoming one of the biggest bingo providers in the industry.<\/p>\n\n\n\n During this time, Playtech also formed several landmark\npartnerships that bolstered its position as one of the top software platforms. <\/p>\n\n\n\n In 2008, the company agreed to launch William Hill Online\nfor a 29 percent stake in the business. <\/p>\n\n\n\n Five years later, Playtech sold this stake back to William\nHill PLC for \u00a3424 million (approximately $511 million).<\/p>\n\n\n\n Sagi\u2019s savvy decision to capitalize on the failing US market\npaid off. <\/p>\n\n\n\n In 2012, Playtech moved up the ladder from AIM to the LSE Main Market. <\/p>\n\n\n\n Since becoming a Premium Listing, Playtech\u2019s list of clients has only continued to increase. <\/p>\n\n\n\n Its most notable clients include Unibet, bet365, S<\/a>naitech<\/a>, Betfair, William Hill, and Totalizator Sportowy (the Polish national lottery).<\/p>\n\n\n\n Yet, Playtech\u2019s acquisition mission was far from over. The\ncompany added multiple strings to its already crowded bow in the years that\nfollowed. <\/p>\n\n\n\n Not forgetting its roots as a top slot developer, Playtech\nsigned a multi-year contract with Warner Bros. to create a line of DC-branded\ngames based around the feature films Green\nLantern <\/em>(2011), Man of Steel <\/em>(2013),\nSuperman I <\/em>(1978), and Superman II <\/em>(1980).<\/p>\n\n\n\n Alongside developing its own top-of-the-range slot games,\nPlaytech added several prominent software providers to its portfolio, including\nEyecon, Quickspin, BGT, and Ash Gaming. <\/p>\n\n\n\n It also launched its first live casino studio in Romania in 2017, launching an exclusive Playtech live casino that rivaled its top competitor, Evolution Gaming. <\/p>\n\n\n\n Sagi began offloading his Playtech shares in November 2016.\nHe first sold 12 percent of his shares \u2013 around 38.7 million in total \u2013 for 1,060\ncents each. <\/p>\n\n\n\n In March 2017, his personal investment company Brickington\nTrading Limited sold 13 million more. <\/p>\n\n\n\n A few months later, Brickington shed a further 32 million shares, securing around $400 million<\/a> from the sale. <\/p>\n\n\n\n Finally, in 2018, Sagi sold the last of his remaining 4.8\npercent stake in the business, officially leaving the company for good (and\npocketing a respectable $87 million).<\/p>\n\n\n\n After almost two decades of exponential success, Sagi\ndispensed his last Playtech stock to turn his full attention to \u201creal estate,\nco-working, service apartments, e-commerce and advanced technology,\ncyber-security, and innovation companies.\u201d <\/p>\n\n\n\n Today, Playtech continues to expand its reach across multiple markets. <\/p>\n\n\n\n The company took its first foray into the US market, launching in New Jersey with bet365 in 2020. <\/p>\n\n\n\n Another live casino studio was established the following year in Michigan. <\/p>\n\n\n\n The company also signed an exclusive deal with UK gambling giant Ladbrokes to provide a bespoke new live game show.<\/p>\n\n\n\n In March 2022, the company announced its partnership with\nParx Interactive to relaunch its betPARX app in Pennsylvania and New Jersey. <\/p>\n\n\n\n The iGaming and sports betting app will use Playtech\u2019s Player Account Management (PAM) and Information Management Solutions (IMS), the latter of which will make its first appearance in the two states.<\/p>\n\n\n\n In the decades since its launch, Playtech has built an impressive omnichannel platform that caters to its licensees\u2019 every need. <\/p>\n\n\n\n Alongside the provision of its exclusive games, Playtech\noffers live casino streaming, turn-key sports betting solutions (Playtech\nSports), virtual sports, poker (via the iPoker network), bingo (using the\nVirtue Fusion platform), and physical games in retail casino locations.<\/p>\n\n\n\n Not content to stop at casino software, Playtech offers eMarketing solutions and a financial trading platform (B.O. Technologies). <\/p>\n\n\n\n The company also boasts Playtech ONE, a cross-product\nsolution that promises to deliver a seamless player experience across any\nchannel or device. <\/p>\n\n\n\n In 2021, the company was sold for $3.7 billion to Australian\ngambling machine manufacturer, Aristocrat Leisure.<\/p>\n\n\n\n Since his departure from Playtech \u2013 and, more often than\nnot, during his time at Playtech \u2013 Sagi cultivated monumental success through\nhis various real estate and tech start-up investments. <\/p>\n\n\n\n Although he has several projects in the works, Sagi\u2019s most\nsuccessful business ventures are those he made public on the LSE: Market Tech,\nSafeCharge, and Kape.<\/p>\n\n\n\n Market Tech (which has since rebranded to LabTech London) is Teddy Sagi\u2019s real estate portfolio. <\/p>\n\n\n\n It was through Market Tech that Sagi began his consolidation of Camden Market. <\/p>\n\n\n\n In March 2014, Teddy bought Camden Stables market for $557 million. The same year, he added Camden Lock and Buck Street Market to his portfolio. <\/p>\n\n\n\n In 2015, Sagi purchased Camden Wharf and the Interchange Building for $132 million, giving him majority ownership of Camden Market. <\/p>\n\n\n\n He has since revolutionized the way the market operates, launching many of its retailers online.<\/p>\n\n\n\n In June 2022, Teddy announced his intention to sell all LabTech-owned sections of Camden Market. <\/p>\n\n\n\n He originally floated the idea in 2019, but the pandemic put an abrupt end to the proceedings. <\/p>\n\n\n\n Three years later, the market mogul intends to release the\nproperties for around $1.3 billion. <\/p>\n\n\n\n Alongside Camden Market, LabTech owns more than 20 acres of West End properties. <\/p>\n\n\n\n Its most spectacular asset, the grade-II listed Victoria House<\/a>, sold in January for \u00a3430 million (approx. $518 million). <\/p>\n\n\n\n In March, LabTech announced its partnership with Babylon Park \u2013 an Israeli-based amusement park with 19 locations \u2013 to launch its flagship UK site.<\/p>\n\n\n\n Other branches of LabTech include RunTech (a property tech\ncompany that connects LAB community sites with the outside world) and\nSmartGreen (which aims to reduce buildings\u2019 energy waste, equipment\nmalfunction, and operational issues).<\/p>\n\n\n\n SafeCharge is the brainchild of Sagi and co-founder David Avgi. <\/p>\n\n\n\n The payments technology launched in 2007, but according to Avgi, its roots were planted way back in 1999. <\/p>\n\n\n\n The company provides \u201cpayments solutions for several sales channels\u201d and its success skyrocketed in 2007 when it began partnering with Barclays, PayPal, and American Express.<\/p>\n\n\n\n The company was eventually sold in 2017 to Canadian company Nuvei. <\/p>\n\n\n\n Though it was a sentimental departure, the $889 million buy-out deal ought to have softened the blow.<\/p>\n\n\n\n Headquartered in the Isle of Man, Unikmind Holdings is the\nprivate company through which Sagi operates his digital privacy company, Kape. <\/p>\n\n\n\n With over 6.5 million paying customers across almost a dozen\ncountries, Kape is an impressive company in its own right. <\/p>\n\n\n\n However, in 2021, Sagi announced a deal to acquire Kape\u2019s\nbiggest rival \u2013 ExpressVPN \u2013 for just shy of $1 billion.<\/p>\n\n\n\n Globe Invest Limited is the single-family office that runs\nSagi\u2019s strategic investments. <\/p>\n\n\n\n Through Globe Invest, Teddy acquired Layam, one of the oldest Duty-Free operators in the Middle East.<\/p>\n\n\n\n In March 2022, Sagi announced that Layam would take over the contract to provide duty-free products on Arkia flights.<\/p>\n\n\n\n Under the Teddy Sagi Group, Teddy acquired VisualDNA, the world\u2019s leading provider of psychographic audience data.<\/p>\n\n\n\n Though he only assumed ownership of the company in May 2015, it was sold a year later to Nielson for an undisclosed sum.<\/p>\n\n\n\n Just as the stories of his childhood are kept firmly under\nwraps, there is little known about Teddy Sagi\u2019s family.<\/p>\n\n\n\n![\"Teddy](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/teddy-sagi.jpeg\")
Early Life<\/h2>\n\n\n\n
The Founding Of Playtech \u2013 Where It All Began <\/h2>\n\n\n\n
![\"Teddy](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/teddy-sagi-1.jpeg\")
Playtech Pushing Boundaries<\/h2>\n\n\n\n
![\"Playtech\"](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/playtech.png\")
Strategic Business Moves <\/h2>\n\n\n\n
![\"Playtech](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/playtech-live-casino.png\")
Sayonara, Teddy Sagi<\/h2>\n\n\n\n
Playtech In 2022<\/h2>\n\n\n\n
![\"parx](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/parx_casino.jpeg\")
Sagi’s Other Career Highlights<\/h2>\n\n\n\n
Market Tech<\/h3>\n\n\n\n
![\"Camden,](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/camden-lock-london.jpeg\")
![\"Victoria](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/Victoria-House.jpeg\")
SafeCharge<\/h3>\n\n\n\n
![\"Safecharge\"](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/safecharge.jpeg\")
Kape<\/h3>\n\n\n\n
Teddy Sagi Group \/ Globe Invest Limited<\/h3>\n\n\n\n
![\"Duty](\"https:\/\/www.casino.org\/blog\/wp-content\/uploads\/Sakal-Souvenir-store.jpeg\")
Family Life<\/h2>\n\n\n\n