An Online Casino Gambling Operation Is Going To Be Opened By An Ex-Playtech Shareholder To Open

Freddi Robinson is going where for his software....?

A recent bulletin in which reported on the premature sale four years ago of Playtech stock by Israeli businessmen will be remembered by our readers. The sale denied these businessmen the consequent rewards of Playtech’s successful growth.

Freddi Robinson was one of those businessmen. Back then his company Miloumor, owned shares in Playtech’s controlling shareholder, NAV New Age Investments Ltd. Just like the Shrem Fudim Kelner & Co. controlling shareholders, and Eitan Eldar and Roi Gil, Gibor Sport Holdings Ltd. controlling shareholders, Robinson did not believe in or support Teddy Sagi’s Internet project.

For what was in retrospect the paltry sum of NIS 3.9 million, Robinson sold his 5 percent ownership in NAV to Sagi. Had Robinson not jumped so quickly and had believed in the impending success of online gambling, he would now indirectly be the owner of shares in Playtech today worth $30 million.

According to Globes, the Israeli business publication, a great deal of water has flowed under the bridge since then. They report that Playtech is due in two weeks to complete its IPO. This will be done on the London Stock Exchange at the expected company value of $900-980 million. Playtech develops software for the operation and management of online websites.

Led by Sagi, Playtech shareholders are projected to sell $240 million worth of shares, and another $60 million will be going to the company. Controlled by Sagi, NAV owns 68% of Playtech. This means that from the IPO, he can expect to make $160-165 million.

These events, along with other profitable online gaming ventures, have possibly prompted Robinson in recent times, into a new online gambling venture. At the present time, the Israeli businessman is at this time a shareholder in the Loutraki Casino in Greece. The Greek Loutraki Casino is considered by many to be one of Miloumor’s most successful investments.

Miloumor Trade and Communication Ltd, the Miloumor subsidiary, this week announced that it has completed a memorandum of understanding with PlayAlyOver, the largely unknown turnkey firm which is a software company registered in Limossol, Cyprus. Under the terms of the agreement, the two companies agree to set up a company that will operate a gambling website over the Internet and with wireless access.

According to Miloumor Trade, the new company is slated to operate within a number of target countries in Central and Eastern Europe. Software developed by the Cypriot company will be used to run the gambling websites, and the cellular applications to are to be developed.

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