CryptoLogic Licenses Top Branded Casino Games to PartyGaming
21 October 2008 - 12:30AM
Marketwired
CryptoLogic Limited, (TSX: CRY)(TSX: CXY)(NASDAQ: CRYP)(LSE: CRP) a
leading software developer to the global Internet gaming market,
today announced a five-year licensing agreement with PartyGaming
Plc, one of the world's largest online gaming operators.
CryptoLogic will initially provide PartyGaming with a suite of
its top branded casino games, which have proven very successful
with players and licensees alike. The company expects the games to
be launched in the first quarter of 2009, adding significantly to
next year's revenue.
Under the deal, PartyGaming will have the option to add any
other CryptoLogic-powered casino games in the future. The agreement
was made through WagerLogic Ltd., the wholly-owned subsidiary that
licenses CryptoLogic software and services to leading gaming and
entertainment brands.
"We are delighted to welcome PartyGaming as our latest partner.
This is one of CryptoLogic's biggest customer wins of the year and
an endorsement of the branded games element of our new strategy. It
proves that when you combine great innovation and excellent
execution, you get expansion," said Brian Hadfield, CryptoLogic's
President and CEO. "PartyGaming has chosen six CryptoLogic games
that represent four different partnerships with world-famous
entertainment brands. It is a clear validation of CryptoLogic's
branded gaming strategy - and our success in delivering a superior
customer experience."
PartyGaming represents CryptoLogic's ninth new customer in 2008,
joining an impressive list of established and emerging gaming
brands that includes 888.com, Sky Betting and Gaming, Gaming Media
Group (The Poker Channel), Maharajah Club, OPoker, Kurastica,
Betjacks and Khel Galli.
"PartyGaming and CryptoLogic are two of the biggest names in
Internet gaming - and we're excited to bring some of CryptoLogic's
greatest games to our players for the first time," said Jim Ryan,
PartyGaming's Chief Executive Officer. "This agreement reflects
PartyGaming's strategy to broaden our product base - and grow our
player base - through innovative alliances. Because these games
will be great for our players, they will be good for our
business."
Boasting more than 200 games, CryptoLogic has one of the most
comprehensive casino suites on the Internet today. From popular
casual games such as Sudoku, Cubis, and Bejeweled to multi-bonus
and multi-jackpot games featuring some of the world's most famous
action and entertainment characters, CryptoLogic has earned rave
reviews from industry peers and players alike. In 2008, CryptoLogic
earned Gambling Online Magazine's Top Casino Software award for the
third consecutive year. Based on the votes of players around the
world, it is widely considered the industry's top honour.
About CryptoLogic� (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Limited is a
leading blue-chip public developer and supplier of Internet gaming
software. Its leadership in regulatory compliance makes it one of
the very few companies with gaming software that is certified to
strict standards similar to land-based gaming. WagerLogic� Limited,
a wholly-owned subsidiary of CryptoLogic, is responsible for the
licensing of its gaming software and services to blue-chip
customers who offer their games around the world to non-U.S. based
players. For information on WagerLogic, please visit
www.wagerlogic.com.
CryptoLogic's common shares trade on the Toronto Stock Exchange
(CRY, CXY), the NASDAQ Global Select Market (CRYP) and the Main
Market of the London Stock Exchange (CRP).
About PartyGaming (www.partygaming.com)
PartyGaming Plc is the world's largest listed online gaming
operator. Founded in 1997, the Group is a constituent of the FTSE
250 share index and the FTSE4Good Index Series, which measures the
performance of companies that meet globally recognised corporate
responsibility standards. PartyGaming's shares are listed on the
London Stock Exchange under the ticker PRTY. In the year to 31
December 2007, PartyGaming's continuing operations generated
revenues of $476.0m and Clean EBITDA of $111.7m. PartyGaming's
principal brands are PartyPoker.com, one of the world's largest
online poker rooms, EmpirePoker.com, PartyCasino.com, the world's
largest online casino, PartyBingo.com, PartyGammon.com,
PartyBets.com, PartyMarkets.com and Gamebookers.com. None of the
Group's sites accept real money customers located in the U.S.
PartyGaming is regulated and licensed by the Government of
Gibraltar and by the Alderney Gambling Control Commission, is
certified by GamCare as a socially responsible gaming operator and
is also a member of the FTSE4Good share indices for the UK and
Europe.
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release, which are not historical are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties including, without limitation, risks
associated with the Company's financial condition and prospects,
legal risks associated with Internet gaming and risks of
governmental legislation and regulation, risks associated with
market acceptance and technological changes, risks associated with
dependence on licensees and key licensees, risks relating to
international operations, risks associated with competition and
other risks detailed in the Company's filings with securities
regulatory authorities. These risks may cause results to differ
materially from those projected in the forward-looking
statements.
Contacts: CryptoLogic Stephen Taylor Chief Financial Officer 353
(0) 1 234 0415 www.cryptologic.com Argyle Communications Karen
Passmore (North American and gaming industry media) (416) 968-7311
ext 228 kpassmore@argylecommunications.com Argyle Communications
Daniel Tisch (North American and gaming industry media) (416)
968-7311 ext 223 dtisch@argylecommunications.com Corfin
Communications Neil Thapar (UK media only) +44 207 977 0020 Corfin
Communications Harry Chathli (UK media only) +44 207 977 0020
Corfin Communications Alexis Gore (UK media only) +44 207 977
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