CryptoLogic Continues Overseas Relationship

CryptoLogic Inc. is one of the web’s top online casino gaming providers.  It did not attain such a reputation by making shoddy business decisions.  In keeping with their traditional business savvy, they have announced the continuation of their current commercial agreement with Overseas Internet Gaming Entertainment NV.   

Overseas is no small hitter.  They operate two landmark casinos in online gaming, InterCasino.com and InterPoker.com.  Under the extended deal, the Cryptologic royalty arrangement remains the same and the company will continue to provide its gaming platform to the Overseas casinos until January of 2012. 

In conjunction with the Overseas announcement, CryptoLogic Inc. declared the coming termination of its contract with Ritz Club London Online by October, 2006.  Ritz Club London Online is the online sister casino of the famous UK land-based casino.  Cryptologic will allow the contract to expire at no great cost to their company finances.  The Ritz account made up 2% of CryptoLogic’s revenue. 

CryptoLogic’s President and CEO, Lewis Rose, reasserts that the latest business moves are in keeping with the company’s mission.  “By reaffirming a long term relationship with our largest customer, we are following CryptoLogic’s guiding principle of achieving the highest “ROE”, what we call “return on effort”, from our customers, products and projects.”  Rose continues to elaborate, “We aim to continue to deepen our relationships with our major customers, while continuing active discussions with select new prospects that will enhance our roster of blue-chip global gaming and entertainment brands.”

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