Cryptologic Signs Deal with Betsafe

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In a press release from its headquarters in Dublin, Cryptologic has announced that it has signed a three year deal with Betsafe. As a result of the deal Cryptologic will be licensing its full Internet casino suite to Betsafe. Normally Cryptologic has been licensing only a handful of its branded and non-branded online casino games in the agreements that it has been making over the past one year. This is only the second time that Cryptologic has licensed its entire suite of online casino games. With this agreement Betsafe has become the 26th licensee of Cryptologic.

As per the terms of the agreement Cryptologic will supply its download casino software to Betsafe. This will be the first ever download casino offering by Betsafe. The agreement entails that Betsafe will not offer any other download casino games except those provided by Cryptologic. Cryptologic's download software contains over 200 games and a host of promotional tools. Once the players that Betsafe download the software they will be able to experience and enjoy the content rich and interactive branded and proprietary online casino games that Cryptologic offers. Cryptologic will also supply its instant play software on a nonexclusive basis to Betsafe. This will cater to those players who not wish to download the software on their computers. The initial offering will be in English and in the Scandinavian languages of Danish, Norwegian and Swedish. The financial transactions will be based on the Euro. Subsequently further languages and currencies can be added by mutual consent. The download casino will go live at the website of Betsafe by the end of 2009.

This agreement with the Betsafe will provide Cryptologic with recurring revenue based on wagers placed by the customers of Betsafe. Brian Hadfield, President and CEO of Cryptologic, said, "The agreement underlines Cryptologic's credentials as a trusted partner with branded and innovative proprietary games and a technology platform that is second to none. In line with our strategy, this deal also provides us with greater penetration into the Scandinavian market and is a further significant step towards our goal of profitability and long-term growth."

If Cryptologic has excellent credentials, then so has Betsafe. Though Betsafe was launched as late as January 2006 it has established itself as one of the most reputed online gaming companies. It offers services in sports betting, poker and casino games. Betsafe is registered in Malta and has the customer base of over 250,000 players from over 100 countries.

Henrik Persson, Chief Executive at Betsafe, said while announcing the deal, "We are delighted to sign this agreement with Cryptologic, who have a proven track record of consistently delivering innovative, industry-leading betting games. Betsafe casino is committed to providing its customers with the best gaming experience available and this collaboration with Cryptologic will help us achieve that goal."

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