Top Online Casinos software provider extends agreements,
leads marketplace
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According to a recent press release covering new
business news in the internet gambling industry, it is clear that
Cryptologic continues to be the top software provider to online casinos
and is the leading software developer to the global online casinos
market. It has recently announced a new deal with online casinos and has
extended its current commercial terms with its largest licensee and one
of the world’s first and largest online casinos. The top online casinos
choose the software firm because of its management philosophy “return on
effort,” as well as its online casinos industry experience in the
booming $12 billion dollar a year industry. There are many internet
gambling firms that see their names in the business pages, as stocks are
traded publicly and recent regulation measures and controversies
surrounding regulation have seen the US Congress and World Trade
Organization also play a part in internet gambling bills and
proceedings. However, in regards to graphics and the industry, the
software company made deals with online casinos to continue providing
services until at least the beginning of January 2012. The online
casinos industry is very competitive, and to sort through the thousands
of online casinos, consumers look for the online casinos that combine
top graphics, with great promotions, and great variety.
The software company provides these online casinos with that and more.
Nevertheless, the firm also lost a relationship with a few online
casinos but the decision will have no material impact on the company’s
financial results since those online casinos account for less than two
percent of the firm’s revenue. "By reaffirming a long term relationship
with our largest customer, we are following CryptoLogic's guiding
principle of achieving the highest "ROE" - what we call "return on
effort" - from our customers, products and projects," said Lewis Rose,
CryptoLogic's President and CEO. "CryptoLogic's ROE strategy has seen us
refine our licensee base since 2003, and the result has been record
performance with revenue and earnings growing 95% and 117% respectively
during that same period. We aim to continue to deepen our relationships
with our major customers, while continuing active discussions with
select new prospects that will enhance our roster of blue-chip global
gaming and entertainment brands." CryptoLogic is scheduled to
release its 2006 first quarter results on Wednesday, May 10, 2006. The
company's guidance remains unchanged. The software firm provides
solutions for online casinos and is a world leading, blue-chip public
developer and supplier of Internet gaming software. CryptoLogic's
leadership in regulatory compliance makes it one of the very few
companies with gaming software that is certified to strict standards
similar to land-based gaming. WagerLogic Limited, a wholly-owned
subsidiary of CryptoLogic, is responsible for the licensing of the
company's gaming software and services to a blue-chip customer base
worldwide. It’s common shares trade on the Toronto Stock Exchange
(symbol: CRY), on the NASDAQ National Market (symbol: CRYP), and on the
Main Market of the London Stock Exchange (symbol: CRP).
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