Is InterCasino & InterPoker going bust?

[dunboy]

InterCasino & InterPoker are owned by Cryptologic. A suprisingly few number of people know this. It used to be run by some guys in London called Ads Dot Com (wholly owned by Crypto) and now Wagerlogic in Malta. The overall ownership is Cryptologic who just released a stockmarket announcement that reads:

CryptoLogic Announces Strategic Review DUBLIN, IRELAND, Mar 25, 2011 (MARKETWIRE via COMTEX) -- The Board of CryptoLogic Limited ("CryptoLogic" or the "Company") (TSX: CRY)(TSX: CXY)(NASDAQ: CRYP)(LSE: CRP), a developer of branded online betting games and internet casino software, announces that it has appointed Deloitte Corporate Finance as financial adviser to assist it with a strategic review of the Company. This review is at an early stage and will consider a number of strategic options, including the possibility of an offer being made for the Company or a disposal of part of the business. The Board wishes to stress that there can be no certainty that any offer will be forthcoming.

I wonder if a) we are witnessing the end of one of the pioneers in our industry and b) WHEN THE HELL THEY ARE GOING TO HONOR MY WITHDRAWL REQUEST! it was not for a huge amount (only $130) but I am wondering whether others are in the same boat.

Cheers
Gavin P

[BoyleCasino.com]

It's a shame to see Crypto struggling although it looks like their restructure has stemmed their losses.

Crypto do still own both Inter brands. Ads dot com was the holding company I believe and they got rid of both their London and Cyprus offices to relocate to Malta. Wagerlogic have always been around, I think they're the parent company of Crypto although I may be wrong. I didn't read too much into the financial reports, just the operational parts!

[baldidiot]

Wagerlogic have always been around, I think they're the parent company of Crypto although I may be wrong. I didn't read too much into the financial reports, just the operational parts!

I met someone from crypto once who tried to explain it to me. I think wagerlogic is the parent company and crypto is the division that deals with licencing. I think

[DiamondGeezer]

Intercasino can't close - they told me my bonus is FOR LIFE

[BoyleCasino.com]

I met someone from crypto once who tried to explain it to me. I think wagerlogic is the parent company and crypto is the division that deals with licencing. I think

Makes sense, Crypto is the development side and then Adsdotcom would be the operational branch, so it seems they've just brought them all in house under the Wagerlogic banner.

[rainmaker]

I met someone from crypto once who tried to explain it to me. I think wagerlogic is the parent company and crypto is the division that deals with licencing. I think

I think it is the other way, Wagerlogic is the subsidiary of Cryptologic

I think someone soon will make an offer to buy Cryptologic.

[baldidiot]

I think it is the other way, Wagerlogic is the subsidiary of Cryptologic

I think someone soon will make an offer to buy Cryptologic.

That's what I meant. What did I say?...

oops!

[rainmaker]

That's what I meant. What did I say?...

oops!

No problem. Easy to get confused when it comes to company structures

CRP rose 10-15% after the announcement of a possible sale. The market apparently believes that it is a good thing. With Cryptologic`s poor results, it is difficult not to agree

[DiamondGeezer]

As a player of a few years with zero inside knowledge it seems to me like the best course of action would be a sale of Intercasino. I find it hard to see what the software company is really worth as unlike Playtech or Microgaming they don't have a string of lucrative contracts. I guess the licensing of single games accross platforms must be worth something but it must be a lot less than turnkey solutions.

I think the big mistake Crypto made was they lost focus on the customer. I mean it's all very well going for expensive comic book slots but what they forgot is that a bit over half of slots players are women. And quite a few blokes are not into comics anyway.

I think it is a big mistake for a developer to sink huge funds into a slot game as they are a bit like pop songs - a new one will come along next week. And some of the best ones were most likely a lot cheaper to make, like Rival's Scary Rich and RTG's Enchanted Garden.

I have played quite a few Crypto slots over the years and if you dig beneath the headline ones most of them are crashingly dull. It's like the company suffers from a deep lack of imagination.

If I was incharge of it all I would try and flog Intercasino to a company like Ladbrokes or Jackpotjoy who may just want the players and knock out a competitior. Then look to sell the software side to another software company like IGT.

[baldidiot]

I have played quite a few Crypto slots over the years and if you dig beneath the headline ones most of them are crashingly dull. It's like the company suffers from a deep lack of imagination.

I really like crypto... am I the only one?!