Playtech, iPoker Internet Poker Network’s Teddy Sagi to Float Energy Company Genesis

Written by:
Aaron Goldstein
Published on:
Aug/20/2012
Playtech, iPoker Internet Poker Network’s Teddy Sagi to Float Genesis Energy

Teddy Sagi, the Israeli billionaire who founded online gambling software firm Playtech and its Web poker network iPoker, is set to float his energy company on London’s AIM this week.

Genesis Energy, a Middle East focused gas explorer, is 40 percent owned by Sagi. 

It is his intent to raise between $90m-$120m through the Initial Public Offering, valuing the group’s equity at as much as £500m.

If successful, the IPO would be the largest on Aim this year.

Some analysts speculate that Playtech will be debuting on the main list before year’s end.  Sagi brought his online gambling software company to AIM back in 2006 at 257p per share, raising about £265m gross.  Last year, he raised his shareholding in Playtech to 43.7 percent.

- Aaron Goldstein, Gambling911.com

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