Online gambling entrepreneur Teddy Sagi intends to make $100M+ in acquisitions this year via his latest venture, online payment service provider SafeCharge.
According to Reuters, CEO David Avgi said the company has $125 million in cash and several opportunities to enter the European and Asian markets.
"I believe we will look for companies similar to SafeCharge's core business," Avgi said.
SafeCharge may opt to raise funding through bonds or equity. Current clients include Ladbrokes, games developer Gaijin and foreign currency broker FXDD.
Numis Securities analyst Trevor Jones said the company has "a more comprehensive, international service than many of its much larger competitors," and noted the potential growth it has.
sharpe
9 years ago
I'm not familiar with this SafeCharge company too, but I know that online payment services can be a hugely profitable business and lately many companies were created. Obviously this guy Teddy Sagi knows how to make money one way or another even if he had not a very good reputation.
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jade
9 years ago
Competition is the key to any diverse market and the same goes for online payment service providers like SafeCharge. I really just want a couple of options that the US will leave alone, probably not gonna happen very soon. Since I can't play at Playtech I don't really know anything about this Teddy Sagi, but Efti does not...
Competition is the key to any diverse market and the same goes for online payment service providers like SafeCharge. I really just want a couple of options that the US will leave alone, probably not gonna happen very soon. Since I can't play at Playtech I don't really know anything about this Teddy Sagi, but Efti does not have much to compliment him about. Hope it is not the case, but I believe Efti.
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Efti
9 years ago
Never heard of SafeCharge before but the first name in the article rang a bell and, sure enough, turns out Teddy Sagi is the founder of Playtech. As rich and successful as he currently is thanks to the latter company, I'm not entirely comfortable with someone of his character, i.e. a shady past of financial wrongdoing,...
Never heard of SafeCharge before but the first name in the article rang a bell and, sure enough, turns out Teddy Sagi is the founder of Playtech. As rich and successful as he currently is thanks to the latter company, I'm not entirely comfortable with someone of his character, i.e. a shady past of financial wrongdoing, being deeply involved in an online payment service.
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