|CryptoLogic has announced the extension of current commercial terms with its largest licensee, Overseas Internet Gaming Entertainment (OIGE). OIGE are the owner and operator of the InterCasino and InterPoker services, and will now remain part of CryptoLogic’s stable until at least January 1, 2012.|
The latest announcement for CryptoLogic also included the news that The Ritz Club London Online has decided to cease its relationship with WagerLogic – CryptoLogic’s wholly-owned subsidiary – effective on or prior to October 28, 2006. However, CryptoLogic believe that decision will have no material impact on their financial results as the Ritz accounts for less than two per cent of revenue.
'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,' said Lewis Rose, CryptoLogic's President and CEO. '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.'