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.