|Online casino software developer CryptoLogic Limited has announced that it is continuing its advance into the Asian market with a strategic investment in Mahjong Time, a Singapore-based provider of online mahjong software and turnkey solutions.|
Dublin-based CryptoLogic stated that it would invest up to $2.5 million for a significant minority equity stake in Mahjong Time over the next month subject to performance thresholds and milestones being met.
'Mahjong is a game with an ancient history in China and a following of well over 600 million worldwide,' said Brian Hadfield, President and Chief Executive Officer for CryptoLogic.
'CryptoLogic is skilled at taking popular pastimes and turning them into online entertainment and in Asia we work with partners who share that vision. An investment in online mahjong fits perfectly with our innovation strategy and our continuing strategy to bring our platform to Asia.'
Mahjong Time stated that it had a patented platform created and managed by a team with in-depth knowledge of the game and earns revenues by licensing this software to gaming operators who attract business through tournaments, subscriptions, pay-for-play models and in-game advertising. The company also has its own site at MahjongTime.com and said that it has a number of unique advantages for operators including more rule-sets than any other provider, multiple language versions of its software and advanced gaming features.
'As a game, mahjong is about both strategy and community and that's the approach we have taken to building our software and our business,' said William Sutjiadi, Chief Executive Officer for Mahjong Time.
'CryptoLogic knows great innovation and great software and together we will build a business with huge global potential.'
Sutjiadi stated that players benefit from a secure, robust and friendly environment featuring non-download software supporting subscription and tournament play as well as a practice mode for newcomers.