Cryptologic Strikes Yet Another Deal

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The leading online software developer is on a license signing spree. Only yesterday it had announced an agreement with Totesport. Today it has announced a deal with Centrebet. The ferocity with which Cryptologic has been signing agreements can be gauged from the fact that this is the seventh such agreement announced since the beginning of June 2009.

The standard format of these agreements has been termed as a "build-once-license-often" business strategy. Cryptologic enters into a partnership with a gaming software solutions platform. It integrates some of its games into that platform, which is a one time effort. Then it licenses the games to all the licensees of that that platform by signing separate agreements with them.

The agreement with Centrebet is on similar lines. It is a multiyear agreement through which Cryptologic will offer at least ten of its online slot games to Centrebet. As is the usual practice, the games have not been identified in the press release given out by Cryptologic. But the press release mentions that both branded and non branded games will be included. Some of these games will be launched at the web site of Centrebet by the third quarter of 2009 and the remaining games by the fourth quarter of 2009.

Cryptologic has more branded games in its portfolio than any other online software developer and it is these branded games that are working wonders for Cryptologic. These games are in demand by players at online casinos that are not powered by Cryptologic. Therefore placing these games at the web site of Centrebet will generate revenue, of which Cryptologic will get a share.

Centrebet operates through the software platform of Orbis Technology. In December Cryptologic had already entered into an agreement with Orbis Technology for integrating its games into their Fixed Odds Games Platforms. Thereafter Cryptologic has entered into agreements with many customers of Orbis Technology for placing the online slot games at their websites. Totesport and Centrebet are the latest of these.

Centrebet was launched in 1992. Though its focus is on sports betting and horse racing it offers the state-of-the-art online poker and casino products as well. Speaking about this agreement with Cryptologic, Luke Brill, Head of Marketing at Centrebet, said, "We are delighted to have signed this agreement with Cryptologic who are known to be one of the best and the most innovative providers of gaming content in the world. We are confident this collaboration will heighten our customers gaming experience and will help expand our casino offering."

For Cryptologic this "build-once-license-often" business strategy has been instrumental in turning the outlook of the company on its head. In the beginning of 2009 Cryptologic was at loggerheads with its former CEO and facing charges that the company was losing shareholder value. However the company stuck to its plans and answered its critics with agreement after agreement with some of the best names in the online gaming industry. Today the outlook is bright and many more such agreements are expected in the future.

More Cryptologic Related Links:

• Full Cryptologic Software Review
• Cryptologic Online Casinos
• Cryptologic Online Casino Games

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