CryptoLogic Licenses at Least 10 of Its Innovative Betting Games to Bet24
25 January 2010 - 6:00PM
Marketwired
CryptoLogic Limited (TSX: CRY)(TSX: CXY)(NASDAQ: CRYP)(LSE: CRP), a
global developer of branded online betting games and Internet
casino software, has signed an agreement to license at least 10 of
its most popular online betting games to Bet24, a Scandinavian
online gaming company owned by Modern Times Group MTG AB (MTG), a
leading international entertainment broadcasting group with the
second largest geographical broadcast footprint in Europe.
The agreement covers some of CryptoLogic's top branded and
non-branded slot games and will provide CryptoLogic with recurring
revenues based on wagers placed by Bet24's customers. Two games are
already live on www.bet24.com, with the complete roll-out of the
full 10-game suite scheduled to launch through the year. The games
will be made available through Gaming Technology Solutions plc,
which provides the platform for many of the world's largest
Internet gaming sites.
Justin Thouin, CryptoLogic's Vice President, said: "Bet24 is our
first new licensee of 2010 and builds on the strong momentum of new
customers gained by CryptoLogic in 2009. With a growing roster of
leading online gaming operators, CryptoLogic continues to increase
its reach across the global player community with its compelling
branded gaming content."
Bet24 was founded in 2001 and since 2005 is part of MTG. Bet24
offers gaming entertainment including exciting odds on
international as well as local sports events, Casino, Poker, Games,
Bingo and Lotto in 15 different languages on www.bet24.com. Bet24
has active clients in more than 70 countries enjoying the full
array of gaming services.
Kim Larsen, Casino and Games Manager of Bet24, said: "The
agreement with CryptoLogic is in line with our strategy of
providing our customers with the best gaming entertainment products
available in the market. We are delighted to offer their games to
our customers and look forward to working with CryptoLogic to
expand our business and enhance user experience."
About CryptoLogic® (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Limited is a
leading public developer and supplier of Internet gaming software.
With more than 300 games, CryptoLogic has one of the most
comprehensive casino suites on the Internet, with award-winning
games featuring some of the world's most famous action and
entertainment characters. The company's licensees include many top
Internet gaming brands, including the "big four" international
operators. CryptoLogic's leadership in regulatory compliance makes
it one of the few companies with gaming software certified to
strict standards similar to land-based gaming. WagerLogic® Limited,
a wholly-owned subsidiary of CryptoLogic, is responsible for the
licensing of gaming software and services to blue-chip customers
that offer their games to non-U.S. based players around the world.
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 Bet24
Bet24 was founded in 2001 and since 2005 is part of the Modern
Times Group MTG AB, a leading international entertainment
broadcasting group with the second largest geographical broadcast
footprint in Europe. Bet24 offers gaming entertainment including
exciting odds on international as well as local sports events,
Casino, Poker, Bingo and Lotto in 15 different languages on
www.bet24.com. Bet24 has active clients in more than 70 countries
enjoying the full array of gaming services.
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.
Forward-looking statements are based on certain factors and
assumptions including expected growth, results of operations,
performance, business prospects and opportunities, foreign exchange
rates and effective income tax rates. While the company considers
these factors and assumptions to be reasonable based on information
currently available, they may prove to be incorrect. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties including, without limitation, risks associated with
the company's financial condition, prospects and opportunities,
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.
Forward-looking statements are given only as at the date of this
release and the company disclaims any obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise, except as otherwise
required by law.
Contacts: CryptoLogic Stephen Taylor Chief Financial Officer 353
(0) 1 234 0415 Argyle Communications Debra Chan (North American and
gaming industry media) (416) 968-7311, ext. 229
dchan@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 or Alexis Gore (UK media only) +44 207 977 0020
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