***CryptoLogic technology extends the Ritz brand into new, fast growing gaming audiences worldwide***
April 27, 2004 (London, UK) – CryptoLogic Inc., a leading software developer to the Internet gaming and e-commerce industries, announced today that The Ritz Club London Online, the prestigious UK gaming brand, has debuted its new poker room at www.theritzclublondon.com, licensed by CryptoLogic subsidiary, WagerLogic Limited. The Ritz Club London, an online casino licensee of WagerLogic since 2002, has added online poker to expand its global reach into one of the Internet’s fastest growing markets.
“CryptoLogic continues to capitalize on the spectacular growth of Internet poker by strengthening our relationships with the best names in gaming,” said Lewis Rose, CryptoLogic’s President and CEO, “The Ritz’s new poker site highlights the increasing appeal of our online poker offering. Today’s announcement also reinforces our core strategy of delivering market-oriented products that help our customers increase profitability, while offering players a safe, secure and entertaining gaming experience.”
Online poker continues to enjoy exceptional popularity around the world, having risen to account for more than 15% of the $5.7 billion global online gaming market last year. With online poker driving the exciting growth of many online gaming businesses, CryptoLogic is benefiting from its expanding roster of international brand name licensees expanding into this large, emerging game segment. As a result, CryptoLogic aims to grow online poker to 15% of its overall revenue in 2004.
“We are excited to introduce live person-to-person Internet poker and offer our customers the latest in online gaming entertainment,” commented Malcolm Graham, Managing Director, The Ritz Club London Online. “CryptoLogic continues to be our preferred partner for proven, interactive gaming solutions, and has enabled us to take advantage of this significant new growth market.”
“We are delighted that The Ritz Club London has reaffirmed its confidence in and commitment to the WagerLogic relationship, marking the seventh licensee to offer our online poker solution," added Antony Demetriades, General Manager at WagerLogic.
The Ritz Club London will offer the newest version of WagerLogic’s online poker software. Customized to the Ritz’s exacting brand standards, this site offers the most popular games, including Texas Hold’em, Omaha High, Omaha High/Low and 7-Card Stud. With WagerLogic’s centralized poker solution, players can get a game at their preferred stake around the clock, while enjoying live poker action with real money players from around the world. No Limit/Pot Limit games and multi-table tournaments are recently added attractions that increase player appeal and traffic.
About CryptoLogic (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Inc. is the largest public online gaming software company serving the global Internet gaming market. The company’s proprietary technologies enable secure, high-speed financial transactions over the Internet, and its 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 Ltd., a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to customers worldwide. For more information on WagerLogic, visit www.wagerlogic.com.
CryptoLogic’s common shares trade on the Toronto Stock Exchange (symbol: CRY), the Nasdaq National Market (symbol: CRYP) and the Main Market of the London Stock Exchange (symbol: CRP).
About The Ritz Club London (www.theritzclublondon.com)
The Ritz Club London is the essence of fine gaming and part of the rich Ritz heritage that dates back to 1906. Situated in the former ballroom of London’s historic Ritz Hotel, the prestigious and exclusive club appeals to the true connoisseur of luxury and elegance. The Ritz Club London places great emphasis on ensuring that the highest standards of operating procedures are constantly upheld. The brand and reputation of The Ritz Club London are important factors in maintaining its international and loyal following amongst its members.
The Ritz Club London Online is a wholly-owned subsidiary of The Ritz Club London, established to pursue online, wireless and interactive television-related gaming activity.
For more information, please contact:
CryptoLogic, (416) 545-1455
Nancy Chan-Palmateer, Director of Communications
Jim Ryan, Chief Financial Officer
Ballard Associates for The Ritz Club London Online
Louise Ballard, + 44 0207 727 1333
Financial Dynamics, + 44 20 7831 3113(UK media)
Published on: 12:00AM on 27th April 2004