|Online casino software supplier CryptoLogic’s policy of concentrating on Europe has paid off again, with the signing of a deal with another major European customer, Ukbetting plc.|
Through an exclusive license agreement with CryptoLogic's wholly-owned subsidiary, WagerLogic Inc., ukbetting will expand its interactive wagering services by using WagerLogic's Internet poker and casino solutions, targeting ukbetting's monthly user base of 3.5 million European sports fans.
'ukbetting is a great opportunity that continues CryptoLogic's positive momentum in the key growth areas of its business,' said Lewis Rose, CryptoLogic's President and CEO. 'Poker continues to be the big growth market on the Internet, and we are aggressively seizing this opportunity. ukbetting marks the second brand name poker customer announced in recent weeks, and confirms the increasing market appeal of our exciting online poker technology. By also leveraging our proven casino solution, ukbetting's sizeable international user community will add favourably to our global reach.'
A UK publicly listed company, ukbetting plc operates sports content sites Sportinglife.com and Teamtalk.com and two sports betting sites, ukbetting.com and totalbet.com. The two betting sites have 145,000 registered betting customers. Ukbetting had pre-tax losses last year of £8.8 million ($13.11 million) (£2.6 million ($3.87 million) loss). Gaming turnover rose 56 per cent to £42.9 million ($63.92).