CryptoLogic extends deal with InterCasino

2006-05-05 18:10:00

Leading gambling software developer CryptoLogic has extended its contract with its largest customer and online casino, Overseas Internet Gaming Entertainment NV (OIGE).

CrypotoLogic has extended current commercial terms with OIGE, which owns and operates two award-winning gaming sites InterCasino and InterPoker, and also secured the same royalty arrangements until January 2012.

InterCasino is one of the biggest online casinos in the world hosting more than 300 million games and paying out more than $3 billion in player winnings to date.

The exclusive agreement between OIGE and CryptoLogic's wholly-owned licensing subsidiary WagerLogic Limited means OIGE will continue to use WagerLogic's complete internet gaming solution.

The news comes as CrypotoLogic is set to break its relationship with Ritz Club London Online later this year in October.

The software developer said the loss of Ritz Club will have no material impact on its financial results because the account makes up less than two per cent of its revenue.

CryptoLogic is expected to release its 2006 first quarter results on May 10th and the company's guidance remains unchanged.