Not all roses in Teddy Sagi's world: Playtech's X-Wise unit lays off 150

It looks like another unit of Teddy Sagi’s online gaming and trading holding company Playtech PLC (LON:PTEC) is going through a series of large scale layoffs.

Teddy Sagi
Teddy Sagi

After LeapRate’s exclusive report earlier this year about mass firings at Playtech Retail Forex unit in a restructuring of its sales, retention and customer service operations, it now appears as if Playtech unit X-Wise is handing out pink slips to a majority of its workers.

X-Wise acts as a digital marketing agency that provides marketing and client acquisition and retention services to online companies which use Playtech software to run their businesses. Israeli business newspaper Globes is reporting that X-Wise has laid off 150 of its approximately 200 staff.

Similar to, X-Wise began life as a private Teddy Sagi owned company, but was later sold to publicly traded Playtech.

The X-Wise layoffs seem to stem from a similar reason behind the firings – increasingly strict regulation in online industries. In the online gaming sector, there is a regulatory trend toward issuing licenses only for local online gambling, that is only to local operators. As a result, a large proportion of Playtech’s customers who use X-Wise’s services have chosen to focus on a more limited number of countries in which they have a stronger brand name, creating less work for X-Wise.

While Globes reported that as far as is known Playtech does not intend to shut down X-Wise, we noted that X-Wise’s website went down yesterday, and remains down as of the time of writing, as per below.

Xwise website down

Related News


Not all roses in Teddy Sagi's world: Playtech's X-Wise unit lays off 150


Send this to a friend

Subscribe to LeapRate
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: