|FOR IMMEDIATE RELEASE|
Symbol: TSX: CRY & CXY; NASDAQ: CRYP; LSE: CRP
May 12, 2008 (Dublin, IRELAND) – CryptoLogic Limited., a leading software developer to the global Internet gaming market, through its wholly owned subsidiary WagerLogic, today announced an exclusive three-year licensing agreement with OPoker.com, a new online poker site launched by a group of Scandinavia’s leading Internet poker executives.
Under the agreement, CryptoLogic will be OPoker.com’s sole provider of gaming software designed for the Scandinavian market, as well as customer support services, e-cash management and business service support.
“Today’s announcement is consistent with our strategic imperative of adding liquidity and strengthening the CryptoLogic poker network within Europe, including Scandinavia,” said Brian Hadfield, CryptoLogic’s President and CEO. “CryptoLogic’s partnership with OPoker.com shows that even while we grow into other parts of the world, we’re also expanding in our core European market.”
OPoker.com’s management team has a long-standing history in e-gaming software, operations and affiliate marketing. With CryptoLogic, OPoker.com will have access to a network of more than 10,000 concurrent users. OPoker.com players will have access to some of the industry’s most popular poker events, including the Caribbean Poker Classic™ and the Head Hunter Challenge™, an innovative tournament concept in which players win cash for every player they eliminate.
“CryptoLogic shares our vision of providing our players with top-quality poker software, tailored to local interests and cultures,” said Daniel Andersson, OPoker.com’s CEO. “Together, we will make OPoker.com a destination of choice for players across Scandinavia and beyond.”
“The combination of CryptoLogic’s technical solutions and OPoker.com’s industry knowledge and expertise make this partnership a natural fit,” added Justin Thouin, CryptoLogic’s Vice President, Product Management and Business Development.
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 is certified to strict standards similar to land-based gaming. WagerLogicâ Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to blue-chip 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).
OPoker.com is launched by a group of gaming executives that have been running online poker rooms, casinos and affiliate sites during the last decade. This is their first venture together and they are focused on providing the highest quality gaming experience possible to their customers. OPoker.com will be operated from Malta.
For more information, please contact:
+44 (0) 207 953 4026
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.