DUBLIN, Ireland -- (PRESS RELEASE) -- CryptoLogic Limited today consolidated its position as a leading global developer of branded online betting games and Internet casino software by signing a multi-year licensing deal with Virgin Games, part of the Virgin Group.
The agreement enables Virgin Games to provide at least 10 of CryptoLogic's top branded and non-branded online slot games to its customers. The games include comic book classics and innovative casual slots, with some games linked into the CryptoLogic jackpot network. These games will bring a new level of enjoyment and rich content to players, while giving them a chance to win a jackpot that has reached over £4 million, one of the online industry's largest prizes.
One game is already live on www.virgingames.com, with more scheduled for launch in the fourth quarter of 2009 and further roll-outs planned in the first half of next year. The games will be deployed through Gaming Technology Solutions PLC, a CryptoLogic technology partner, on its GTS Edge platform.
The agreement is in line with CryptoLogic's build-once-license-often growth strategy and will generate recurring revenue based on a share of wagers placed by players.
Brian Hadfield, President and Chief Executive of CryptoLogic, said: "The deal with Virgin is another example of how CryptoLogic is building a solid platform for long-term growth by creating and licensing the industry's most exciting proprietary games to the world's marquee brands."
Virgin Games, a wholly owned subsidiary of Virgin Group, was set up in 2004 and has grown quickly to establish itself as one of the leading gaming sites in the UK.
Simon Burridge, Chief Executive of Virgin Games, said: "CryptoLogic has a track record of delivering the industry's most compelling games while the Virgin brand is widely associated with fun and great value. Our agreement is sure to be a winning combination delivering unrivalled enjoyment and potential prizes to Virgin Games' players."