CryptoLogic's New Deals - The Trail is Hot

July 30, 2009 | News Category: Casino Software

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Earlier this week, CryptoLogic announced their new deal with Totesport, and hot on its heels have also announced a licensing deal with Centrebet. CryptoLogic seem to be racing from one deal to another, and have already signed seven similar agreements since June this year, including the agreements with Totesport and Centrebet.

So far, CryptoLogic has 24 licensees. The type of agreements that CryptoLogic has been entering into are in line with the company's "build-once-license-often" business strategy, which has been adopted in order to return them to profitability, and to help them grow. These deals help to give a selection of CryptoLogic's games additional exposure, as they can be played by more players on various online gambling sites.

The agreement with the UK company, Totesport, is for a multi-year contract. The sports betting site will be offering their customers six of CryptoLogic's top slot machine games. The games that will be offered include both branded and non-branded slots, which will be chosen from CryptoLogic's top revenue games. At this time, the selection of which games will be offered has not yet been released. Totesport will be offering the games sometime in the next couple of months.

The Vice President of CryptoLogic, Justin Thouin 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."

The agreement with Centrebet is also based on a multi-year contract. Centrebet will be offering at least ten CryptoLogic slot games, which will also be chosen from a choice of the best branded and non-branded slots. Centrebet will be offering the new slot games to their users before 2009 is over.

All the games that will be chosen for Totesport and Centrebet, and other similar agreements, will be those that have proven track records, and should generate worthwhile recurring monthly licensing revenues. CryptoLogic receives revenue based on the bets placed by those playing the games. Orbis Technology will be the games distributor to the online betting industry.

The Head of Marketing at Centrebet, Luke Brill expressed delight at the deal with CryptoLogic, saying "We are confident this collaboration will heighten our customers gaming experience and will help expand our casino offering."

"The deal with Centrebet maintains the strong momentum to establish CryptoLogic as the gaming partner of choice for the world's Internet gaming operators and in particular strengthens our leadership in slot games," said Justin Thouin.