Cryptologic and PartyGaming in talks

According to The Financial Times, Cryptologic is in talks with PartyGaming and may be providing the former internet poker industry leader may be moving to use Cryptologic software.

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After William Hill announced that it was abandoning CryptoLogic as its software provider of poker and casino for rival Playtech, Dublin-based CryptoLogic sought to soften the blow by announcing a review of strategy.

It said it had entered into a five-year licensing agreement with PartyGaming to provide casino games on its platforms, such as Marvel’s The Fantastic Four, Hulk and Spider-Man.

But it would also enter into a poker partnership with a large poker network “to increase liquidity while reducing expenses substantially”. This is understood to involve PartyGaming.

PartyGaming has seen its market share of online poker fall from 40 per cent to about 8.5 per cent in the past two years having exited the lucrative US market following a regulatory clampdown.

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Full story here ... http://www.ft.com/cms/s/0/9ae07ad8-9...nclick_check=1

The deal is more than rumor now. Here is the press release Lyceum put out announcing the finalized agreement:

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CryptoLogic Licenses Top Branded Casino Games To PartyGaming

6 games to launch in early 2009 with strong revenue growth anticipated

October 20, 2008 (Dublin, IRELAND) – CryptoLogic Limited, a leading software developer to the global Internet gaming market, today announced a five-year licensing agreement with PartyGaming Plc, one of the world’s largest online gaming operators.

CryptoLogic will initially provide PartyGaming with a suite of its top branded casino games, which have proven very successful with players and licensees alike. The company expects the games to be launched in the first quarter of 2009, adding significantly to next year’s revenue.

Under the deal, PartyGaming will have the option to add any other CryptoLogic-powered casino games in the future. The agreement was made through WagerLogic Ltd., the wholly-owned subsidiary that licenses CryptoLogic software and services to leading gaming and entertainment brands.

“We are delighted to welcome PartyGaming as our latest partner. This is one of CryptoLogic’s biggest customer wins of the year and an endorsement of the branded games element of our new strategy. It proves that when you combine great innovation and excellent execution, you get expansion,” said Brian Hadfield, CryptoLogic’s President and CEO. “PartyGaming has chosen six CryptoLogic games that represent four different partnerships with world-famous entertainment brands. It is a clear validation of CryptoLogic’s branded gaming strategy — and our success in delivering a superior customer experience.”

PartyGaming represents CryptoLogic’s ninth new customer in 2008, joining an impressive list of established and emerging gaming brands that includes 888.com, Sky Betting and Gaming, Gaming Media Group (The Poker Channel), Maharajah Club, OPoker, Kurastica, Betjacks and Khel Galli.

“PartyGaming and CryptoLogic are two of the biggest names in Internet gaming — and we’re excited to bring some of CryptoLogic’s greatest games to our players for the first time,” said Jim Ryan, PartyGaming’s Chief Executive Officer. “This agreement reflects PartyGaming’s strategy to broaden our product base — and grow our player base — through innovative alliances. Because these games will be great for our players, they will be good for our business.”

Boasting more than 200 games, CryptoLogic has one of the most comprehensive casino suites on the Internet today. From popular casual games such as Sudoku, Cubis, and Bejeweled to multi-bonus and multi-jackpot games featuring some of the world’s most famous action and entertainment characters, CryptoLogic has earned rave reviews from industry peers and players alike. In 2008, CryptoLogic earned Gambling Online Magazine’s Top Casino Software award for the third consecutive year. Based on the votes of players around the world, it is widely considered the industry’s top honour.

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