BUSINESS

Mor Weizer: No changes in Playtech with Sagi share sell-off

TAGs: CAI, Mor Weizer, Playtech, teddy sagi

In this interview with CalvinAyre.com’s Becky Liggero,, Mor Weizer of Playtech talks about the future of the company in light of the latest Sagi sell-off

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Investors of gambling technology provider Playtech Plc were rattled last month after founder Teddy Sagi unloaded 11.5 percent of shares in the company. The sell-off happened after the stock hit an all-time high.

It was the third time that Sagi sold a major chunk of his shares in Playtech but the sell-off continues to cause jitters to investors who are worried about the future of a post-Sagi led company.

Playtech chief executive officer Mor Weizer quickly allayed the fears of many, saying that it would be business as usual even as Sagi steps to the sidelines.

“Teddy is not involved with the company for many years now. He does act as an advisor to the company, the board and management on strategic matters, and this will remain in place even after he has sold,” Weizer told CalvinAyre.com. “Other than that, he isn’t involved and I don’t see much change internally with the way we operate.”

Weizer said the company has several projects in the pipeline involving innovations in Playtech’s offering and expansion in emerging markets.

Meanwhile, the company is focused on its sports and live casino and has continuously invested in poker and bingo.

“But you will see new platforms, new innovation, and new areas in markets that Playtech will penetrate and establish itself there as we strongly believe we are the leading software provider in each of those commercially viable jurisdictions,” Weizer said.

Looking ahead, Weizer believe that gaming executives will talk more of newly opened markets and diversification of gambling firms.

Discussions on innovative technology will dominate future conversations among gaming executives around the world.

“I would see more methodologies, new methodologies on marketing, retention, and service to provide a far better experience to customers that will all be fully personalized that goes beyond a single channel that will be a truly omni-channel basis, obviously technology will play a key role in that. Obviously, expect Playtech to participate in this trend, remaining an important element in the gaming industry,” he said.

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