Cryptologic Signs Deal with NeoGames

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It appears that having got its issues with Amaya Gaming out of the way, the leading online casino software provider Cryptologic is back to expanding its customer base. It has just inked a multi-year licensing agreement with NeoGames. NeoGames is a leading global provider of online scratch cards and instant win games.

As a part of the deal, Cryptologic will offer a selection of its award winning online games to the NeoGames network. Two of its most popular branded slots games will be offered first, though the titles have not been mentioned in the press advisory. Further games will be added on over the period of the agreement. Using the NeoGames network, the games will be distributed to over 30 online casinos that are powered by this network. NeoGames is the second customer in recent times to access online casino games through the Cryptologic Instant Click platform.

The Instant Click platform allows for quick deployment of selected titles from Cryptologic's complete suite of over 300 online casino games. Online operators and software providers can integrate these games on their own online gaming infrastructure and payment processing systems, without simultaneously licensing these components from Cryptologic. Therefore this integration can be completed in a few weeks.

Ian Price, Group Head of Business Development at Cryptologic, said, "We are pleased to welcome a company with the reputation and reach of NeoGames to our list of blue-chip licensees." Price was confident that the agreement would generate value for both companies. NeoGames was established in 2005 and services online gambling operators, national lotteries, affiliates and media companies. Shay Bar-Joseph, Managing Director at NeoGames Networks, pointed out that integrating third party games into the NeoSphere platform was another important milestone for the company. NeoGames is committed to provide the best in online casino games to its clients and this deal with Cryptologic would go a long way in meeting that objective. He specially praised Cryptologic's branded slot games, which are in great demand at online casinos.

Through a separate press release Cryptologic has put up more information on its acquisition by Amaya Gaming. Amaya Gaming has offered to acquire the entire ordinary share capital of Cryptologic at a price of $2.535 per share. The offer is subject to being accepted in respect of more than 50 per cent in value of the share capital of Cryptologic and more than 50 per cent of the voting rights attached to it. Shareholders have been given a time of up to March 28, 2012 for completing the acceptance formalities. Market sources reveal that there is no problem anticipated in receiving the requisite acceptances and the successful completion of the deal only remains a formality now.

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