Playtech Considers Buying OpenBet For $427M

February 3, 2016 | Online gambling platform Playtech, in which Israeli entrepreneur Teddy Sagi is a majority shareholder, is vying with bookmakers William Hill and Paddy Power to purchase OpenBet, a UK-based gambling software company. However, OpenBet’s owner Vitruvian Private Equity bought OpenBet five years ago from Rupert Murdoch’s NDS for £208 million ($296 million) and is now reportedly asking for £300 million ($427 million)—a million more than what Sagi is thought to have offered. Founded in 1999, Playtech is now traded on the London Stock Exchange with a current share price of £7.65, a P/E ratio of £20.04, and a market cap of £2.45 billion.