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

CryptoLogic Limited

March 17, 2008 03:00 ET

World Poker Tour® Raises the Stakes-With CryptoLogic

Top gaming brand upgrades to full Internet casino, adds new languages, extends agreement to 2011

DUBLIN, IRELAND--(Marketwire - March 17, 2008) -

ALL FINANCIAL FIGURES ARE IN US$

CryptoLogic Limited (TSX:CRY)(TSX:CXY)(NASDAQ:CRYP)(LSE:CRP), a world leader in Internet gaming software, announced today the extension and expansion of its relationship with World Poker Tour® (WPT), one of the world's top gaming brands. Under the arrangement, WPT Enterprises Inc. (NASDAQ:WPTE) will expand its Internet casino offering, add Spanish and German language Internet poker rooms and extend its exclusive use of CryptoLogic software until at least mid-2011.

"In less than one year, CryptoLogic and World Poker Tour have teamed up to deliver an exceptional on-line experience for casino and poker players all over the world," said Brian Hadfield, CryptoLogic's President and CEO. "CryptoLogic's collaboration with WPT is another great example of our success in building and growing relationships with the world's top gaming and entertainment brands - for mutual benefit."

CryptoLogic sees World Poker Tour as one of the world's most promising gaming brands, with huge potential for growth in player volume and revenue as WPT markets and leverages its television properties in the fast-growing European market. The addition of the Spanish- and German-language poker rooms should also add valuable liquidity and many new European players.

WPT Enterprises began using CryptoLogic's software on its site, www.worldpokertour.com, in 2007, enabling players to enjoy both Internet poker action and a mini-casino of 13 top games. In addition to adding multi-language poker capabilities and extending its agreement with WagerLogic Ltd., CryptoLogic's wholly-owned subsidiary, WPT has exercised its option to upgrade to a full Internet casino with more than 200 games.

"Our partnership with Cryptologic - particularly their reputation, proven software and liquidity - has been a key element in delivering a superior World Poker Tour gaming experience for fans in the international space," said Steve Lipscomb, CEO and founder of WPT Enterprises. "Expanding and extending this relationship allows us to take the WorldPokerTour.com brand to a higher level."

About WPT Enterprises (www.worldpokertour.com)

WPT Enterprises, Inc. (NASDAQ:WPTE) is a company engaged in the creation of internationally branded entertainment and consumer products driven by the development, production, and marketing of televised programming based on gaming themes. WPTE is the creator of the World Poker Tour®, a television show based on a series of high-stakes poker tournaments that airs on the Travel Channel in the United States and is scheduled to begin broadcasting on GSN in early 2008. WPT is licensed for broadcast globally. WPTE also offers a real-money online gaming website, www.worldpokertour.com, which prohibits wagers from players in the U.S. and other restricted jurisdictions.

WPTE currently licenses its brand to companies in the business of poker equipment and instruction, apparel, publishing, electronic and wireless entertainment, DVD/home entertainment, casino games, and giftware. The company is also engaged in the sale of corporate sponsorships. For show information, tools for improving poker play, and other WPT news, fans may log on to www.worldpokertour.com. WPT Enterprises, Inc. is a majority owned subsidiary of Lakes Entertainment, Inc. (NASDAQ:LACO).

About CryptoLogic®(www.cryptologic.com)

Focused on integrity and innovation, CryptoLogic Limited is a world-leading, blue-chip public developer and supplier of Internet gaming software. Its leadership in regulatory compliance makes it one of the very few companies with gaming software that has been certified to strict standards similar to land-based gaming.

WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of CryptoLogic software and services to customers who offer their games around the world to non-U.S. based players. For information on WagerLogic®, 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).

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
    35316641682
    or
    Argyle Communications
    Daniel Tisch
    (North American and gaming industry media)
    (416) 968-7311 ext 223
    dtisch@argylecommunications.com
    or
    Argyle Communications
    Karen Passmore
    (North American and gaming industry media)
    (416) 968-7311 ext 228
    kpassmore@argylecommunications.com
    or
    Corfin Communications
    Neil Thapar
    (UK media only)
    +44 207 977 0020
    or
    Corfin Communications
    William Cullum
    (UK media only)
    +44 207 977 0020
    or
    Corfin Communications
    Harry Chathli
    (UK media only)
    +44 207 979 0020