Cryptologic gets WPT deal


RIP Brian
Feb 22, 2001

But US players will be excluded, thanks to the UIGEA

Top online gambling software developer and turnkey provider CryptoLogic Inc., and WPT Enterprises Inc. (WPTE), a leader in poker entertainment, announced today (Wednesday) a three-year contract that will move the World Poker Tours (WPT) gaming site for the international market to the worlds largest non-US shared gaming network.

The agreement, entered into with CryptoLogics wholly-owned subsidiary, WagerLogic Limited, will introduce CryptoLogics popular poker software while delivering a unique WPT look and feel. The new WPT poker room is expected to launch in June 2007.

"Liquidity is a big deal in this business," said Steven Lipscomb, President, Founder and CEO of WPTE. CryptoLogic has proven itself to be an industry leader that delivers a superior product. This deal ensures that starting with day one of our online gaming re-launch there will be a plethora of cash games and tournament offerings available for our customers on a stable and proven platform."

"We will launch with a look and feel unique to World Poker Tour and will work with WagerLogic to incorporate additional WPT features that will begin to redefine and distinguish our product and customer experience."

It is the perfect strategic step for both companies, as World Poker Tour and CryptoLogic are pioneers in the global gaming phenomenon, said Javaid Aziz, CryptoLogics new President and CEO.

WagerLogics flexibility in working with licensee-specific software needs, as well as its adherence to strict regulatory standards and our shared commitment to growth in markets where on-line poker is embraced, are just some of the key factors that brought WPT and CryptoLogic together.

In line with U.S. legislation, none of WagerLogics licensees takes wagers from U.S.-based players.

The three-year contract between WagerLogic and WPT will run until June 30, 2010, with an expected go-live date for poker in June 2007. WagerLogic will also provide the eCash services and support and customer call services to the WPT gaming sites. WagerLogic will also develop a suite of casino games for WPT, which will include Blackjack, Roulette, Millionaires Club, Bejeweled and The Hulk.

In related news, reports that CryptoLogic has applied to de-list its shares from the Toronto Stock Exchange, the NASDAQ, and the Official List of the UK Listing Authority. It will also soon cancel trading in its shares on the London Stock Exchange's EEA Regulated Market.

The move follows the company's decision to relocate its headquarters from Toronto, Canada to Dublin, Ireland to be nearer to its large European customer base.

A new parent company, CryptoLogic Ltd, is expected to be listed on the TSX, NASDAQ, and UK Official List in June.