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March 29, 2006
Another Big Wagering IPO
The London Stock Exchange’s market AIM saw one of its largest IPOs as Playtech went public valuing the online gambling software maker at nearly $1 billion.
Seven year-old Playtech began trading at $4.50 per share, raising $55.6M. Playtech has 39 licensees for 94 online casinos, 15 online poker sites, and 15 online bingo sites and its profits have grown to $35.6M in 2005 from $8.3M in 2003.
Playtech was founded in Estonia where most of its programing still takes place, but its HQ is in the British Virgin Islands, where we understand taxes are not a problem .
The company's 32-year old CEO is Avigur Zmora. He was CFO of New Age Ventures, a Tel Aviv listed company that served as an incubator to tech startups, including Playtech.
Playtech's Software
Posted on March 29, 2006 05:50 AM | Posted to Games (PC and other) | Permalink
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