CryptoLogic Software Moves to International Poker Network

Sunday January 18, 2009

The software gaming giant CryptoLogic announced this week they are outsourcing their poker network to GTECH's International Poker Network, according to a story with Fox Business.

CryptoLogic's customers include major industry players like William Hill Plc, 888 Holdings Plc, PartyGaming Plc and GigaMedia with online poker rooms like Pacific Poker, Party Poker and Everest Poker that could benefit from the software. CryptoLogic recently signed a new contract with Gaming Technology Solutions plc, whose customers include Unibet, bwin and several other top brands.

Based in Dublin, Ireland, CryptoLogic expects to deliver a net income of $9-$10 million in 2009 under a new growth strategy and restructuring program.

The partnership with GTECH Corporation will be completed by the end of Q1 2009 and is hoped to improve poker-room liquidity for CryptoLogic customers while eliminating the costs of operating a standalone network. The move gives CryptoLogic's poker licensees and players access toa larger network with a combined average of 15,000 active players.

CryptoLogic will continue to provide a full-service offering for its licensees through the GTECH network and receive ongoing revenues from its transferred customers.

This summer CryptoLogic released a variety of new features to their poker software including a tool that lets players host their own tournaments as well as a new sorting and filtering tool for players looking to customize their settings for cash games and tournaments.