Playtech, a company which develops internet casino gambling online software, has just announced plans to raise 175 million pounds in a stock market flotation on the London Exchange. This would bring the total value of the internet casino gambling online software developer to upwards of 550 million pounds.
The internet casino gambling online software developer was founded in 1999, and employs more than 250 employees around the world. The company is based in Cyprus, although most employees operate out of the Eastern European republic of Estonia.
Since the company was founded, its worth has grown exponentially. Only three years ago in 2003, software developer was valued at a comparatively paltry $19 million.
The internet casino gambling online software developer is majority owned by Israeli businessman and entrepreneur Teddy Sagi. According to the Financial Times, Sagi holds more than half of Playtech’s stock. He plans to sell $120 million worth, but will be left with $380 million.
Playtech follows in the footsteps of a number internet casino gambling online industry companies in going public.
The British investment firm Collins Stewart was hired by Playtech in October to make arrangements for a sale or public offering of the company.
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