Playtech’s Billionaire Founder Teddy Sagi About to See Huge Payday
With online gambling software provider Playtech entering into deals with Ladbrokes and a yet-to-be-named US casino partner, company founder Teddi Sagi is in for another big payout thanks in part to William Hill.
From the London Evening Standard:
Sagi, Playtech’s largest shareholder with a 49.5 per cent stake, is set to collect a cool 33.3 million in dividends for last year but could also receive a one-off payment of more than £200 million if the firm hands the money it was paid for its share of William Hill Online back to shareholders.
Hill and Playtech severed their years long often acrimonious relationship last week. Both companies, despite their well publicized spats, appear to have fared well from that marriage.
Playtech beat earnings estimates in 2012 and reported Thursday it had made a strong start to 2013, with average daily revenues up over 15 percent in the first 11 weeks compared to last year.
- Aaron Goldstein, Gambling911.com
