Teddy Sagi, founder of Playtech is introducing a new product and planning a 0 million IPO in London according to a report in the London Financial Times.
The company is a digital wallet branded SafeCharge. Sagi owns the controlling 90 percent stock in the company.
The digital wallet has obvious ties to online gambling, but can be used for a number of types of e-commerce. The company claims SafeCharge can process gambling bets at high speed of 300 transactions per second.
The company says SafeCharge processed $5 billion in transactions last year and its revenues were $43.1 million, up 31.4 percent on 2012. SafeCharge is forecasting 2014 revenues of $61.2 million.
The company has obtained “principal” status with MasterCard and has applied for similar status with Visa, the report says.
Founded by present CEO David Avgi in 2006, SafeCharge predicts that revenues from sports betting will grow to up to 45 percent of overall sales, while revenues from the UK would increase to up to 52 percent of all markets.
“We are also planning to be very focused in the Asian market, with some acquisitions,” he said.
Meanwhile, Playtech has launched its Live Games on Ladbrokes, allowing Ladbrokes to distribute all of Playtech’s Live Games across all platforms.
Featuring the largest private area Playtech has created to date, Ladbrokes will provide their players with an exclusively branded “Live” area, the company said in a press release.
The new Multi-Game interface launched is designed to maximize player value, which will allow Ladbrokes’ players to play any three games simultaneously via a single window where the games or game tables can be easily swapped using a user-friendly interface. The mobile native version also contains a unique lobby stream where players can tap any table to join, the company said.
“We are very excited to launch our live offering with Ladbrokes,” said Aviv Nankin, Playtech’s head of live games. “With its branded clickable private area live stream and full support for all mobile devices, I am certain Ladbrokes will see the positive results of this launch in no time. Our product definitely represents the next generation of Live Games and we are excited to launch this new advanced live casino solution with one of the leading brands in our industry.”
