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Online Casino Conditions >>> Betting News >>> May '07 News


Cryptologic Looks Forward to Future in Online Gaming Industry

by Ryan O'Donnell, News Staff
Writer      Bookmark with del.icio.us
May 13, 2007
 

While many online gaming companies are feeling the sting of the passing of the U.S. Unlawful Internet Gambling Enforcement Act in October 2006, there is one online casino software company who has hardly been phased. Cryptologic has always been a front runner in the online gambling industry. Even now, despite the gaming industry's more turbulent status, Cryptologic is enjoying substantial growth and legitimacy in the active market at large. Much of this unwavering success has been due to Cryptologic's focus on the European gaming market prior to the U.S. fallout. At that time, only a mere 30% of Cryptologic's revenues came from U.S. players, which was in sharp contrast to the many other companies who primarily relied on U.S. revenues and were sent reeling after the U.S. withdrawal.

Other reasons credited to Cryptologic's strong upward progression are its new partnerships with the ever popular land-based World Poker Tour, the publishing powerhouse that is Playboy, and the government operated Holland Casino. Cryptologic and the World Poker Tour have teamed up to provide players with a superior online poker experience that is a result of a mutually beneficial, exclusive three-year contract. The Playboy partnership is an exciting development in the online gambling world, for Cryptologic now powers Playboy's poker and casino site, both of which are poised to draw a large member base of Playboy fans. The most contrasting of Cryptologic's business ventures is their three-year contract to provide gaming software to the Netherlands government's online casino, Holland Casino, which is slated to be unveiled this upcoming June.

What may seem like small developments as of now, Cryptologic's strategic integration into the booming Asian online gambling market may easily produce monumental growth and investment in the company's future. One part of their strategy to delicately move into the complicated Chinese market is by openly coming to an agreement with Brilliance Tech. Co. and 568 Network to provide non-revenue play-money games on the internet and reserving their real-money games to be exclusively offered at retail locations operated by the China Welfare Lottery. This desire to invest in the future of the Asian online gambling market has also helped to motivate Cryptologic in their proactive translation process to enable the release of a wide array of their online casino software in multiple languages. This will also help in their acquisition of two separate Scandinavian poker sites, Safebet.com and Parbet.com, both of which they have chosen to license with a third party operator.

All of this forward thinking operation has led to Cryptologic being awarded GOM's Top Casino Software Award once again, not to mention a $4 million revenue increase in this first quarter alone. A good portion of these increases are being put toward Cryptologic's new global European headquarters and their development of forty new online casino games, some of which will be borne from the exciting and exclusive brand agreement with Marvel Entertainment, continuing until 2010. The Marvel online slots series is now one of the most popular selection of real-money and progressive slots on the Web, which is yet another testament to Cryptologic's paramount success.
 

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