Cryptologic Signs Gigamedia As Newest Casino Licensee
November 6, 2008 (Dublin, IRELAND) – CryptoLogic Limited, a leading software developer to the global Internet gaming market, today announced an exclusive multi-year licensing contract with GigaMedia Limited, a major provider of online entertainment software and services. CryptoLogic will be the only external provider to offer casino software across the Everest Gaming platform – GigaMedia’s highly popular gaming technology offering.
The initial roll-out of CryptoLogic’s instant play casino is expected to launch this quarter with a selection of languages, followed by a full roll-out with a further expanded language offering during Q1 2009. The agreement was made through WagerLogic Limited, CryptoLogic’s wholly-owned subsidiary.
“I’ve said before that CryptoLogic’s core strengths are the development of the industry’s most innovative casino games and licensing our exceptional casino software to the top gaming sites around the world,” said Brian Hadfield, CryptoLogic’s President and CEO. “CryptoLogic’s exclusive partnership with GigaMedia clearly demonstrates the international appeal of our highly successful casino software – a strength on which we will continue to focus and build moving forward.”
GigaMedia develops and licenses some of the most successful and popular multi-lingual online entertainment offerings on the internet, including Everest Poker, one of the largest poker sites in the world.
“We are committed to delivering players the best online entertainment,” said Bob Cahill, Chief Executive Officer of GigaMedia’s gaming software division. “And this exciting lineup from CryptoLogic featuring world famous action heroes can help us do just that.”
With more than 200 games, CryptoLogic has one of the most comprehensive casino suites on the Internet today. CryptoLogic has earned rave reviews from industry peers and players alike, and in 2008 earned Gambling Online Magazine’s Top Casino Software award for the third consecutive year. Based on the votes of players around the world, it is widely considered the industry’s top honour.
“Today’s announcement combines CryptoLogic’s award-winning online casino expertise with GigaMedia’s established and growing player base,” added Justin Thouin, CryptoLogic’s Vice President, Product Management and Business Development. “It’s a perfect fit.”
Focused on integrity and innovation, CryptoLogic Limited is a 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. WagerLogic 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, please 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).
GigaMedia Limited (Singapore registration number: 199905474H) is a major provider of online entertainment software and services. GigaMedia develops and licenses software for online gaming. GigaMedia also operates online games businesses including FunTown, a leading Asian casual games operator and the world's largest online MahJong game site in terms of revenue, and T2CN, a leading online sports game operator in China. More information on GigaMedia can be obtained from www.gigamedia.com.tw.
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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.