News & Updates - Wednesday, March 29, 2006
Estonian Gambling Co. With British Virgin Islands HQ Does London IPO
Yeah, you heard it here, geography doesn't mean anything any more in the world of tech startups and finance. The London Stock Exchange’s market AIM saw one of its largest IPOs as Playtech IPO'd 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.
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 Stuff
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