CryptoLogic Extends Agreement With Ladbrokes
DUBLIN, IRELAND -- (Marketwire) -- 06/14/12 -- CryptoLogic Limited (CRYP) (TSX: CRY)(TSX: CXY)(NASDAQ: CRYP), an Amaya Gaming Group company and a leading developer of online betting games, announces that it has extended its long-term relationship with Ladbrokes PLC, a world-leader in the global betting and gaming market, with a new multi-year deal to license a suite of its most popular branded casino games.
Under the terms of the new agreement, Ladbrokes will launch at least 10 of CryptoLogic's award winning casino games to join the two games that went live under the previous deal. Four of the new games are already live and available to play on the Ladbrokesgames.com website with another six scheduled for launch over the next few months.
Ian Price, Vice President Operations at CryptoLogic, said: "This agreement further cements our excellent relationship with Ladbrokes, a global leader in the gaming industry. The expanded roll out of our games by Ladbrokes demonstrates both the popularity of our games with their customers and the value we bring to our licensees."
Ladbrokes employs over 14,000 people in Britain and over 16,000 in total. In addition to its extensive retail presence Ladbrokes offers thousands of betting markets on a daily basis via the Internet. Ladbrokes online betting and gaming facility, has attracted nearly 800,000 active clients.
Richard Poole, Head of Casino & Games, at Ladbrokes eGaming, commented: "We are delighted to be extending our agreement with CryptoLogic. At Ladbrokes, we pride ourselves on delivering cutting edge games to our customers and CryptoLogic's renowned and popular games help us do that. We look forward to building on our strong relationship in the future."
About CryptoLogic® (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Limited is a leading developer and supplier of Internet gaming software. With more than 300 games, CryptoLogic has one of the most comprehensive casino suites on the Internet, with award-winning games featuring some of the world's most famous action and entertainment characters. The Company's licensees include many top Internet gaming brands. CryptoLogic's leadership in regulatory compliance makes it one of the few companies with gaming software certified to strict standards similar to land-based gaming. The CryptoLogic Group licenses gaming software and services to blue-chip customers that offer their games to non-US based players around the world.
CryptoLogic's common shares trade on the Toronto Stock Exchange (CRY, CXY) and the NASDAQ Global Select Market (CRYP). The Company was acquired by Amaya Gaming Group Inc. of Canada in March 2012.
About Amaya Gaming Group
Founded in 2004, Amaya Gaming Group Inc. is a technology based gaming provider for the regulated gaming industry. An expansive global organization, present in North America, Latin America, Europe, Africa and Asia, Amaya is an innovator in the gaming world.
Headquartered in Montreal, Canada, Amaya provides a host of services and solutions that range from: online and mobile gaming casino games and platforms, traditional and mobile lotteries, networked electronic gaming systems, hospitality in-room entertainment systems, management systems, content suites, advisory and management services, and integrity monitoring and auditing systems for the regulated gaming markets. For more information please visit www.amayagaming.com or www.amayaonline.com.
The name Ladbrokes is synonymous with betting and gaming: the hallmark of a premier brand. The Company, the origins of which date back to 1886, employs over 14,000 people in Britain and over 16,000 in total. It is one of the world's leading betting and gaming enterprises. Ladbrokes is a market leader in retail bookmaking in the UK, Ireland, Belgium and Spain where it operates a combined total of more than 2,700 betting shops. The Company also operates betting facilities at eight FA Premiership grounds and nine racecourses, including Ascot. In addition to its extensive retail presence Ladbrokes offers thousands of betting markets on a daily basis via the Internet, mobile Internet and telephone. The telephone betting operation services 85,000 customers, while Ladbrokes.com, the Company's online betting and gaming facility, has attracted nearly 800,000 active clients. Betting is offered via 13 tailored sites in nine different languages; supporting 17 currencies. The site incorporates the highest levels of security, which underwrite an integrated array of sports betting and gaming services available 24 hours a day, 365 days of the year. Ladbrokes is focused on building its digital capabilities to realise its vision of becoming a fully e-enabled international betting and gaming business.
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
This press release contains forward-looking statements within the meaning of applicable securities laws. 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. The words "believe", "expect", "anticipate", "estimate", "intend", "may", "will", "would" and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on certain factors and assumptions including expected growth, results of operations, performance, business prospects and opportunities, foreign exchange rates and effective income tax rates. While the Company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Risks related to forward-looking statements include, without limitation, risks associated with the Company's financial condition, prospects and opportunities, 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 and risks associated with competition. Additional risks and uncertainties can be found in the Company's Form 20-F for the fiscal year ended December 31, 2011 under the heading "Item 3 - Key Information - Risk Factors" and in the Company's other filings with the US Securities and Exchange Commission and Canadian provincial securities commissions. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are given only as at the date of this release and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.
Contacts: CryptoLogic Limited Ian Price VP Operations +44 (0) 207 616 1947 www.cryptologic.com Amaya Gaming Group Inc. Jeff Codispodi Equicom +1 (416) 815-0700 ext. 261 Luther Pendragon Neil Thapar +44 (0) 207 618 9100 Luther Pendragon Alexis Gore +44 (0) 207 618 9100
Source: CryptoLogic Limited