Playtech to list on London Stock Exchange

The end of last week finished with a flow of news and rumors of Playtech's imminent listing on the London Stock Exchange.
Predicted as one of the biggest online gaming listing of the year, Playtech spokesman quelled the gush of gossip by revealing the company's intention to sell $300 million worth of shares on the London AIM.
Playtech is worth and estimated $950 million.
The Financial Times published, earlier during the week, the upcoming listing, while Playtech only confirmed this a few days later.
Based in the British Virgin Islands, the company has announced it will list its shares within the month. Teddy Sagi took part in the establishment of the company, and retains the majority of shares amongst a group of shareholders that own over fifty percent of the company.

Playtech is known throughout the gaming industry for designing, developing and licensing software for gaming companies. These companies include GoldenPalace.com and Empire Online Ltd.
With over thirty-seven licensees, operating in almost ninety online casinos, sixteen online poker rooms and fourteen bingo sites, the company has succeeded in establishing itself within the industry.
Since its founding in 1999, Playtech has managed to secure a enviable revenue. Indeed, by 2005, after tax, Playtech had made a profit of over thirty-five million dollars. This was up by over twenty-five million.
Playtech isn’t alone in the market. Its main competitor includes Canadian based CryptoLogic Inc. This particular company has a market value of C$379.8 million – almost $330 million.
Playtech is certainly transcending borders. The companies management is based on the Isle of Man. Nonetheless, ninety percent of its workers are based in Estonia. With a close working relationship with the University of Tartu, situated in the southern part of the country, the company has been known to recruit graduates as software developers.
Last year, the Israeli press published new and until then unknown details about the company's origins. According to them Playtech was launched in 2000 by NAV New Age Investments Ltd. This company itself is controlled by Sagi and over thirty Israeli entrepreneurs, with Elad Cohen as its CEO. Today, however, Nav New Age has been delisted from the Tel Aviv Stock Exchange.
Other founders of Playtech include Amnon Ben-ion and Rami Beinish. According to the history books, Ben-Zion and Cohen met while participating in compulsory military training, in the Israeli Defense Force.
Ben-Zion, however, recently sold his shares in Playtech.

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