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DUBLIN, Ireland -- CryptoLogic Limited, a global designer of branded online betting games and casino hosting software, has taken another major step towards profitability and growth by signing a multi-year
Cryptologic is a leading online gambling software manufacturer. agreement with totesport, the UK's state-owned and fourth largest bookmaker.
These games have a proven track record of generating significant recurring monthly licensing revenues due to their rich content and compelling user experience. The company will derive revenues based on wagers placed by totesport's customers. The games are being deployed through Orbis Technology, a global platform solutions provider to the betting industry, and are expected to go live in the third quarter 2009.
The deal takes the total number of CryptoLogic licensees to 23.
Justin Thouin, Vice President of CryptoLogic, said: "Totesport is one of the most respected brands in the UK betting industry and we are delighted that its customers will be able to pit their skills and enhance their enjoyment with CryptoLogic games. With this agreement we now have consolidated our strong position in Britain's online gaming sector with a goal to return to long-term growth."
Founded by an Act of Parliament in 1928, totesport is a major force in Britain's betting industry with annual revenues of £2.8 billion, 4000 employees, over 500 high street shops, a presence at each of the country's 59 racecourses as well as Internet and telephone-based betting for sports, casino, bingo and pools betting.
Keith Oliver, e-Gaming and Marketing Director of totesport, commented: "Our agreement with CryptoLogic brings together two very trusted brands from bookmaking and gaming content. We are confident this collaboration will not only bring a new level of enjoyment for our customers but will also help to drive our ongoing expansion into online gaming."
Boasting more than 280 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. Its licensees include many of the world's best known Internet gaming brands including the "big four" international operators.
|CryptoLogic is a leading software developer in the rapidly expanding Internet gaming industry. Individuals registered in 240 nations and territories worldwide use their software.|
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