CryptoLogic Inc.
28 November 2006
FOR IMMEDIATE RELEASE
Symbol: TSX: CRY; NASDAQ: CRYP; LSE: CRP
CryptoLogic and William Hill in contract renewal negotiations,
launch new non-download games
November 28, 2006 (London, UK) - CryptoLogic Inc., a leading software developer
to the global Internet gaming industry, today announced that its wholly-owned
subsidiary, WagerLogic Limited, is in the process of negotiating a renewal
contract with European betting and gaming giant, William Hill. The companies
have entered into a non-binding term sheet which reflects the agreement in
principle and builds on the companies' mutually beneficial seven-year
relationship. Additionally, William Hill launched an innovative suite of 24 new
CryptoLogic-developed non-download games on its online casino site,
www.williamhillcasino.com.
Based on the provisions of the term sheet, the companies expect to finalize and
sign a three-year long form contract. The current contract was to expire in
November but has been extended to allow for the completion of negotiations in
early December.
'We have an excellent relationship with William Hill and look forward to even
more success both through a new contract later this year and the new business
opportunities that this exciting suite of non-downloadable games represent,'
said Lewis Rose, CryptoLogic's President and CEO.
WagerLogic has supplied William Hill with the new non-download games under its
status, established earlier this year, as preferred supplier for such games to
William Hill's primary UK pound sterling and US dollar properties.
'CryptoLogic's continuous flow of innovative games is one of the major reasons
we have worked together for over seven years,' said Peter Nolan, William Hill's
Group Director, Remote Channels. 'Non-download games are great tools to attract
new players, keep casual players involved, and to cross-sell downloadable casino
games, which offer an even richer entertainment experience.'
Altogether, CryptoLogic now offers over 60 exciting non-download games, which
complement the company's suite of over 200 market-leading downloadable games,
and has introduced almost 100 new games since 2004. The new non-download suite
includes some of the Internet's most popular slot titles.
According to Justin Thouin, Vice President, Casino Software Development, 'We
already offer the best, most innovative suite of downloadable online casino
games. By converting 24 of our most popular titles into non-download format, we
have staked out a leadership position in that category, too.'
Now at William Hill, gamers can instantly play slot favourites like Bejeweled,
the wildly popular gem-matching game, with one click of the mouse-no waiting.
The non-download version of Millionaires' ClubTM gives players a shot at its
record-setting online jackpot, currently exceeding 4.7 million US dollars, pound
sterling or euro. And for the first time, players can enjoy instant play
versions of exclusive high-impact action slots featuring Marvel Super Heroes
like Blade, Silver Surfer, Daredevil, The Hulk, Punisher, Thor and the X-Men.
'These new games take advantage of proven winners from our deep download game
roster to deliver a unique new Internet entertainment experience for the instant
game player,' added A.J. Slivinski, WagerLogic's Managing Director.
About CryptoLogic(R) (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Inc. is a world-leading,
blue-chip public developer and supplier of Internet gaming software.
CryptoLogic's leadership in regulatory compliance makes it one of the very few
companies with gaming software that is certified to strict standards similar to
land-based gaming. WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic,
is responsible for the licensing of the company's gaming software and services
to a blue-chip customer base around the world. For information on WagerLogic(R),
visit www.wagerlogic.com.
CryptoLogic's common shares trade on the Toronto Stock Exchange (symbol: CRY),
on the NASDAQ Global Select Market (symbol: CRYP), and on the Main Market of the
London Stock Exchange (symbol: CRP).
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For more information, please contact:
CryptoLogic, (416) 545-1455 Argyle Rowland Communications,
(416) 968-7311
(North American media)
Rick Wadsworth, Director of Communications Karen Passmore, ext. 228/
kpassmore@argylerowland.com
Dan Tisch, ext 223/
dtisch@argylerowland.com
Corfin Communications
UK media only)
Ben Hunt, +44 207 929 8985
Neil Thapar, +44 207 929 8999
Harry Chathli, +44 207 979 8980
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release which are not historical are forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that all forward-looking
statements involve risks and uncertainties including, without limitation, risks
associated with the Company's financial condition and prospects, legal risks
associated with Internet gaming and risks of governmental legislation and
regulation, risks associated with market acceptance and technological changes,
risks associated with dependence on licensees and key licensees, risks relating
to international operations, risks associated with competition and other risks
detailed in the Company's filings with securities regulatory authorities. These
risks may cause results to differ materially from those projected in the
forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange