CryptoLogic Limited (TSX: CRY)(TSX: CXY)(NASDAQ: CRYP)(LSE: CRP), a global developer of branded online betting games and Internet casino software, has signed a multi-year agreement to license at least five of its most compelling online betting games to BetClic, a major European online sports gaming business.
The agreement covers some of CryptoLogic's top slot games which are all scheduled to go live on BetClic's Games website, providing CryptoLogic with recurring revenue based on wagers placed by BetClic's customers. One CryptoLogic game is already live with the remainder to follow shortly. The games will be integrated through CryptoLogic's technology platform provider, Gaming Technology Solutions plc.
Brian Hadfield, President and CEO of CryptoLogic, said: "The popularity and demand for our industry-leading games remains strong as evidenced by this latest agreement with BetClic, a fast growing European operator. As each new licensee launches our games, we add a new and recurring revenue stream to our business while providing enhanced value and user experience for our partners' customers."
Created in 2005, in less than four years BetClic has grown from a start-up to a major online sports gaming business in Europe. Led by its founder and CEO, Nicolas Beraud, it currently has 300 employees, including 40 bookmakers and over one and a half million customers.
"We are excited about the prospect of adding quality branded content to our current portfolio," said Nicolas Beraud, CEO of BetClic. "CryptoLogic games are instantly recognisable and are developed to the highest industry standards. This partnership further enhances our commitment to offering the best gaming experience to our diverse customer base."
About CryptoLogic@ (www.cryptologic.com (http://www.cryptologic.com) )
Focused on integrity and innovation, CryptoLogic Limited is a leading public developer and supplier of Internet gaming software. With more than 300 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. The company's licensees include many top Internet gaming brands, including the "big four" international operators. CryptoLogic's leadership in regulatory compliance makes it one of the few companies with gaming software certified to strict standards similar to land-based gaming. WagerLogic@ Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of gaming software and services to blue-chip customers that offer their games to non-U.S. based players around the world. For information on WagerLogic, please visit www.wagerlogic.com (http://www.wagerlogic.com) .
CryptoLogic's common shares trade on the Toronto Stock Exchange (CRY, CXY), the NASDAQ Global Select Market (CRYP) and the Main Market of the London Stock Exchange (CRP).
Created in 2005, in less than four years BetClic has grown from a start-up to a major online sports gaming business in Europe. Led by its founder CEO Nicolas Beraud, it currently has 300 employees, including 40 bookmakers and more than 1.5 million customers. The company operates across 15 different countries (UK, France, Italy, Spain, Portugal, Poland, Greece...) each with its own dedicated country team. It is friendly, simple to use and based around a shared passion for sport. BetClic is strongly committed to responsible gaming. The company is now a part of the Mangas Gaming group, the leading online sports and gaming company in Europe, which has also acquired Bet-at-home and Expekt.
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release, which are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain factors and assumptions including expected growth, results of operations, performance, business prospects and opportunities, foreign exchange rates and effective income tax rates. While the company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the company's financial condition, prospects and opportunities, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on licensees and key licensees, risks relating to international operations, risks associated with competition and other risks detailed in the company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements. Forward-looking statements are given only as at the date of this release and the company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.