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Crypto today announced a deal to merge poker platforms with the Boss network.
Quote:CryptoLogic Limited , a world leader in Internet gaming software, announced today that it has entered into a strategic Internet poker agreement with Boss Media AB, a subsidiary of GTECH Corporation, one of the world’s leading gaming technology and services companies. CryptoLogic will merge its major poker customers with Boss Media’s International Poker Network (IPN) within the first quarter 2009.
The agreement is in line with CryptoLogic’s recently announced growth strategy to focus on its highly popular branded games and its Internet casino business. This migration of CryptoLogic’s poker operations and customers to the Boss Media network, in tandem with other actions, will help generate significant cost savings for CryptoLogic, estimated at $12 million – $15 million per year.
“CryptoLogic’s aggressive action on its new strategy, as witnessed in several recent announcements – and our new agreement with Boss Media, is a major step in our journey back to growth, profitability and returning shareholder value,” said Brian Hadfield, CryptoLogic’s President and CEO. “This partnership provides our poker customers with access to one of the largest poker networks in the world, while helping CryptoLogic reduce costs substantially. Also, it will allow us to focus on the continued development and licensing of the Internet’s most innovative casino games, and to leverage our lead in branded content games in partnership with the world’s top entertainment brands.”
Many of CryptoLogic’s poker licensees, including highly successful brands such as InterPoker and Parbet, are scheduled to join the IPN in early 2009. These sites will continue to use CryptoLogic’s back-office services, with the IPN integrated therein. GTECH Corporation’s subsidiaries, Boss Media and St Minver, will provide a fully managed poker solution to CryptoLogic’s poker licensees.
“This agreement reflects GTECH’s strategy to optimize our assets, and to broaden and grow our international player base – and CryptoLogic is an ideal business partner,” said Atul Bali, President of GTECH’s New Media & Sports Betting Co. “CryptoLogic is widely recognized for its innovation, integrity and commitment to its customers. We are delighted to welcome these customers and their players to our network and significantly increase the liquidity for our new enhanced player base.”Source courtesy of Marketwire: Here
Of course this is good news as far as liquidity is concerned on both networks!
CRYPTOLOGIC FORMS PARTNERSHIP IN POKER WITH GTECH CORPORATION SUBSIDIARY, BOSS MEDIA AB
November 12, 2008
Combining poker networks means greater liquidity, significant cost savings say those at Boss Meida.
(Dublin, IRELAND – Press Release) – CryptoLogic Limited, a world leader in Internet gaming software, announced today that it has entered into a strategic Internet poker agreement with Boss Media AB, a subsidiary of GTECH Corporation, one of the world’s leading gaming technology and services companies. CryptoLogic will merge its major poker customers with Boss Media’s International Poker Network (IPN) within the first quarter 2009.The agreement is in line with CryptoLogic’s recently announced growth strategy to focus on its highly popular branded games and its Internet casino business. This migration of CryptoLogic’s poker operations and customers to the Boss Media network, in tandem with other actions, will help generate significant cost savings for CryptoLogic, estimated at $12 million – $15 million per year.
“CryptoLogic’s aggressive action on its new strategy, as witnessed in several recent announcements – and our new agreement with Boss Media, is a major step in our journey back to growth, profitability and returning shareholder value,” said Brian Hadfield, CryptoLogic’s President and CEO. “This partnership provides our poker customers with access to one of the largest poker networks in the world, while helping CryptoLogic reduce costs substantially. Also, it will allow us to focus on the continued development and licensing of the Internet’s most innovative casino games, and to leverage our lead in branded content games in partnership with the world’s top entertainment brands.”Many of CryptoLogic’s poker licensees, including highly successful brands such as InterPoker and Parbet, are scheduled to join the IPN in early 2009. These sites will continue to use CryptoLogic’s back-office services, with the IPN integrated therein. GTECH Corporation’s subsidiaries, Boss Media and St Minver, will provide a fully managed poker solution to CryptoLogic’s poker licensees.
“This agreement reflects GTECH’s strategy to optimize our assets, and to broaden and grow our international player base — and CryptoLogic is an ideal business partner,” said Atul Bali, President of GTECH’s New Media & Sports Betting Co. “CryptoLogic is widely recognized for its innovation, integrity and commitment to its customers. We are delighted to welcome these customers and their players to our network and significantly increase the liquidity for our new enhanced player base.”Got a release from them in my email today too (feel free to use it however you like, it’s a press release)
Looks like the players at Cyrptologic will continue to receive rakeback now. This is a surprise move to me as I thought they were destined to go to Party Gaming.
You scooped me!
Anyway, here’s InfoPowa’s take on the story. (Click here to read it at the CAP News page.)
CryptoLogic and Boss Media to Partner Up; Online poker operations of two major firms to combine
November 12, 2008 (InfoPowa News) — The Dublin-based online poker software and network provider CryptoLogic has announced that it has entered into a strategic Internet poker agreement with Swedish online poker provider Boss Media AB, and will merge its major poker licensees with Boss Media’s International Poker Network (IPN) within the first quarter 2009.
The agreement sees Crypto increasingly distancing itself from online poker and is in line with firm’s recent decision to focus on its highly popular branded games and its Internet casino business. A company spokesman said that this migration of CryptoLogic’s poker operations and customers to the Boss Media network, in tandem with other actions, will help generate significant cost savings for CryptoLogic, estimated at $12 million – $15 million per year.
“CryptoLogic’s aggressive action on its new strategy, as witnessed in several recent announcements, and our new agreement with Boss Media, is a major step in our journey back to growth, profitability and returning shareholder value,” said Brian Hadfield, CryptoLogic’s President and CEO.
“This partnership provides our poker customers with access to one of the largest poker networks in the world, while helping CryptoLogic reduce costs substantially. Also, it will allow us to focus on the continued development and licensing of the Internet’s most innovative casino games, and to leverage our lead in branded content games in partnership with the world’s top entertainment brands.”
Many of CryptoLogic’s poker licensees, including highly successful brands such as InterPoker and Parbet, are scheduled to join the IPN in early 2009. These sites will continue to use CryptoLogic’s back-office services, with the IPN integrated therein. GTECH Corporation‘s subsidiaries, Boss Media and St Minver, will provide a fully managed poker solution to CryptoLogic’s poker licensees.
“This agreement reflects GTECH’s strategy to optimize our assets, and to broaden and grow our international player base — and CryptoLogic is an ideal business partner,” said Atul Bali, President of GTECH’s New Media & Sports Betting Co.
