DUBLIN, IRELAND--(Marketwire -02/22/12)- CryptoLogic Limited (TSX: CRY.TO - News)(TSX: CXY.TO - News)(NASDAQ: CRYP - News)(LSE: CRP.L - News), a developer of branded online betting games and Internet casino software, announces the signing of a multi-year licensing agreement to provide a portfolio of CryptoLogic's award-winning games to NeoGames, the leading global software and service provider of internet scratch cards and instant win games.
CryptoLogic provided two of its exclusive and most popular branded slot games for initial rollout. Additional games will be rolled out over the term of the agreement and the games will be distributed across NeoGames' network of over 30 online gaming operators. NeoGames is the second customer in six months to launch the games through CryptoLogic's Instant Click platform.
Instant Click enables a more rapid deployment of a range of titles from CryptoLogic's complete suite of more than 300 online casino games by online operators and technology providers on their own e-gaming infrastructure and electronic cashier systems. As a result, CryptoLogic's Instant Click games platform and related portfolio of game content can now be integrated and made available to players within just a few weeks.
Ian Price, Group Head of Business Development at CryptoLogic, said: "We are pleased to welcome a company with the reputation and reach of NeoGames to our list of blue-chip licensees. This agreement opens the door for CryptoLogic's games to over 30 new online gaming operators and we are confident it will generate value for both companies."
Since its establishment in 2005, NeoGames has been providing an advanced solution combining a robust and secure platform, interactive games and a set of complementary operational services. Gaming operators, national lotteries, affiliates and media companies benefit from flexible multi-channel platform solutions that include fully-managed operations and customised integrations of NeoGames' soft-gaming offering, a comprehensive approach of scratch cards, instant win games and slots.
Shay Bar-Joseph, Managing Director at NeoGames Networks, commented: "Integrating third party games into the NeoSphere platform is another important milestone for NeoGames as part of our commitment to provide best-of-breed solutions for our partners. NeoGames is delighted to add CryptoLogic's industry-leading games to our portfolio and provide our partners with branded slot games."
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-U.S. based players around the world.
NeoGames is the leading global software and service provider of internet scratch cards and instant win games. Having pioneered the online scratch cards market, NeoGames is exclusively committed to helping gaming operators, national lotteries and media companies realize the full potential of the soft-gaming segment through its extensive portfolio of revenue-generating games and services for the web and mobile environments. NeoGames offers a complete and field-proven soft-gaming offering consisting of the world's largest online games portfolio as well as a flexible and robust management platform that facilitates customized integration and fully-managed solutions.
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, 2010 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.
Group Head of Business Development
+44 (0) 7769 144797
+44 (0) 20 7618 9100