CryptoLogic Limited
TSX : CRY
TSX : CXY
NASDAQ : CRYP
LSE : CRP

CryptoLogic Limited

September 09, 2009 02:00 ET

CryptoLogic Licenses Its Full Internet Casino Suite to Betsafe

Three-year deal to strengthen company's presence in the Scandinavian market

DUBLIN, IRELAND--(Marketwire - Sept. 9, 2009) - 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 three-year agreement to license its full Internet casino suite to Betsafe.com, a leading online gaming operator with a growing customer base of over 250,000 players.

The deal takes the total number of CryptoLogic licensees to 26 and is the second full casino hosting licensing deal signed by the company this year.

CryptoLogic's download casino is the first ever offered by Betsafe, enabling it to benefit from CryptoLogic's complete suite of over 200 games and promotional tools. The CryptoLogic casinos will initially be based on the Euro and in English, Danish, Norwegian and Swedish languages, with an option to widen the range of languages and currencies in the future.

Under the terms of the agreement, CryptoLogic becomes Betsafe's exclusive supplier of download casino software, which allows players to pre-install CryptoLogic's online casino to their PCs and thereby enjoy the full extent of its content-rich and interactive branded and proprietary games. In addition, CryptoLogic will also become a non-exclusive supplier of a full suite of instant play casino games, primarily aimed at casual players who do not wish to download games on their computers.

The games are expected to become available on Betsafe's website by the end of 2009 and will provide CryptoLogic with recurring revenue based on wagers placed by Betsafe's customers.

Brian Hadfield, President and CEO of CryptoLogic, said: "This is the first time Betsafe, one of the fastest-growing operators, has offered a download casino to its players. The agreement underlines CryptoLogic's credentials as a trusted partner with branded and innovative proprietary games and a technology platform that is second to none. In line with our strategy, this deal also provides us with greater penetration into the Scandinavian market and is a further significant step towards our goal of profitability and long-term growth."

Henrik Persson, Chief Executive at Betsafe, commented: "We are delighted to sign this agreement with CryptoLogic, who have a proven track record of consistently delivering innovative, industry-leading betting games. Betsafe casino is committed to providing its customers with the best gaming experience available and this collaboration with CryptoLogic will help us achieve that goal."

About CryptoLogic® (www.cryptologic.com)

Focused on integrity and innovation, CryptoLogic Limited is a leading public developer and supplier of Internet gaming software. Boasting more than 280 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. Its licensees include many of the world's best known Internet gaming brands including the "big four" international operators. Its leadership in regulatory compliance makes it one of the very few companies with gaming software that is certified to strict standards similar to land-based gaming. WagerLogic® Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its 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.

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).

About Betsafe

Betsafe, based in Malta, is today one of the leading suppliers of online gaming products worldwide, with over 250,000 customers from over 100 different countries. Since its official launch in January 2006 Betsafe has been able establish itself as one of the most trusted and reliable gaming companies in the market. Betsafe offers its customers a wide selection of innovative products such as poker, sportsbetting and casino games.

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. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, 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.

Contact Information

  • CryptoLogic
    Stephen Taylor
    Chief Financial Officer
    353 (0) 1 234 0415
    www.cryptologic.com
    or
    Argyle Communications
    Jason Graham
    (North American and gaming industry media)
    (416) 968-7311, ext. 229
    jgraham@argylecommunications.com
    or
    Argyle Communications
    Daniel Tisch
    (North American and gaming industry media)
    (416) 968-7311, ext 223
    dtisch@argylecommunications.com
    or
    Corfin Communications
    Neil Thapar
    (UK media only)
    +44 207 977 0020
    or
    Corfin Communications
    Harry Chathli or Alexis Gore
    (UK media only)
    +44 207 977 0020