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The Guardian - UK
The Guardian - UK
Politics
Rob Davies

A £53m gamble: billionaire’s company claims it was tricked into buying UK online betting firm that was worth ‘nil’

Israeli billionaire Teddy Sagi sought to buy money-spinning ITG brands such as Jammy Money, mFortune and PocketWin.
Israeli billionaire Teddy Sagi sought to buy money-spinning ITG brands such as Jammy Money, mFortune and PocketWin. Photograph: Twitter

Ensconced within the luxury of his £30m Knightsbridge pad overlooking Hyde Park, the billionaire Teddy Sagi laid his cards on the table. “I have a big pair of balls,” he proclaimed, according to documents filed at the high court. “I lost £300,000 in the casino last night. I will buy your business for £53m.”

For the man on the other side of the negotiating table, the online gambling entrepreneur Simon Wilson, the stakes had never been higher.

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