Tuesday, March 25, 2014

Teddy Sagi's Next Gamble: Buying London's Camden Market for £400 Million

Sagi, the controlling owner of Playtech, will acquire full ownership from Israeli Billionaire Bebo Kobo and his two British partners. Value of transaction: £400 million (NIS 2.4 billion). Sagi: "We see incredible business and tourism potential in Camden" Teddy Sagi, the controlling shareholder of Playtech –online gambling software giant, and one of the few Israeli billionaires in the world, marks his next gamble: the popular Camden Market in London.

Sagi has acquired full ownership of Camden Market – 50% from Israeli billionaire Bebo Kobo, partner of Israeli model Miri Bohadana, and 25% from each of Kobo's British partners – property company Chesfield Partners, and restaurant tycoon Richard Caring. The transaction was made based on a total market value of £400 million, NIS 2.4 billion.The deal includes a property called Hawley Wharf, where Sagi intends to build 170 houses, a school and even a movie theater.

Sagi, only 42, started building his fortune (currently estimated at over $4 billion)15 years ago, when Playtech was founded. More than a decade later, Playtech is the world'sleading provider of software-based platforms for online gambling websites, and it is traded in the London Stock Exchange at a value of $3.5 billion.

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