Under the agreement, CryptoLogic will merge its major poker customers with Boss Media’s International Poker Network (IPN) within the first quarter of 2009.
CryptoLogic said that the agreement is in line with its recently announced growth strategy to focus on its 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, is expected to help generate significant cost savings for CryptoLogic.
Many of CryptoLogic’s poker licensees, including 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’s subsidiaries, Boss Media and St Minver, will provide a fully managed poker system to CryptoLogic’s poker licensees.
Brian Hadfield, president and CEO of CryptoLogic, said: 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.
