Cryptologic Signs Up SportingbetBy: Joan Peppin, Friday June 12th 2009
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The internal problems that Cryptologic has been grappling with over the last few months have not put a dampener on its growth plans. In a press release from Dublin, Ireland, the leading online gaming software provider has announced yet another agreement with a major gaming operator. This time the licensee is Sportingbet. Sportingbet offers online gambling services in sports betting, casino games and poker in 22 languages and in 30 markets spread over Europe, Australia, Canada and South America. The multi-year agreement states that Cryptologic will provide at least 10 of its most popular online casino slot games to Sportingbet. The press release does not mention which these 10 games will be, but says that both branded and non-branded games will be included. The first set of games will be delivered in the latter part of 2009 and the remaining online slots will be delivered by the end of the year. The games will be integrated with the platform of Gaming Technology Solutions plc (GTS), which services many of the biggest online gaming operators.
Since late last year Cryptologic has embarked on a strategy of delivering a selection of its games to large online gaming operators through their existing networks. Commenting on the success of this strategy Brian Hadfield, Cryptologic's President and CEO, said, "With Sportingbet.com on our customer list alongside PartyGaming, 888.com and Betfair, Cryptologic is very proud to have the confidence of the "big four" international operators." He explained how this was a win-win strategy for all concerned. The players at Sportingbet and other operations would benefit from having access to Cryptologic's best games. This would increase the traffic and the wagering at Sportingbet and therefore Sportingbet would benefit. The revenue that Cryptologic would derive from this agreement would mean greater returns for Cryptologic's shareholders. Justin Thouin, Cryptologic's Vice President, said that Sportingbet made an ideal business partner for Cryptologic because both organizations shared values of integrity, a commitment to responsible gaming and a pledge to constantly improve the player experience.
Andrew McIver, Group Chief Executive of Sportingbet, also expressed his praise for Cryptologic and his satisfaction at the way the deal had panned out. He said, "Cryptologic is renowned for developing online slot games with the end user experience in mind. This matches perfectly with Sportingbet's commitment to providing its customers with the most exciting and innovative online gaming experience." He added that he was looking forward to seeing the Cryptologic online slot games on Sportingbet later this year.
In order to more effectively oversee the growth that Cryptologic has planned for, some changes have been made to the board of directors. David Gavagan, currently an independent non-executive director, has taken over as the independent non-executive chairman. Robert Stikeman has stepped down as chairman but will continue as a non-executive director. In addition James Wallace has been appointed as an independent non-executive director.
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