William Hill to iPoker and Crypto to Party

[GaF]

Hadn't heard about Hills moving :unsure Crypto are pretty small anyway, but without WH they will have no liquidity at all..... http://www.ft.com/cms/s/0/9ae07ad8-9ee0-11dd-98bd-000077b07658.html?nclick_check=1

CryptoLogic and PartyGaming in talks By Roger Blitz Published: October 21 2008 04:36 | Last updated: October 21 2008 04:36 CryptoLogic, the software developer, is in talks with PartyGaming to pool their poker businesses to save costs as both companies fight to maintain their positions in the online gambling industry. After William Hill announced that it was abandoning CryptoLogic as its software provider of poker and casino for rival Playtech, Dublin-based CryptoLogic sought to soften the blow by announcing a review of strategy. EDITOR’S CHOICE William Hill claims top online games slot - Oct-20 Gambling industry avoids worst of downturn - Oct-20 Adelson pours $475m into LVS - Oct-02 MGM Mirage hit by Las Vegas slowdown - Aug-05 Tabcorp hit by first loss in 14 years - Aug-07 It said it had entered into a five-year licensing agreement with PartyGaming to provide casino games on its platforms, such as Marvel’s The Fantastic Four, Hulk and Spider-Man. But it would also enter into a poker partnership with a large poker network “to increase liquidity while reducing expenses substantiallyâ€. This is understood to involve PartyGaming. PartyGaming has seen its market share of online poker fall from 40 per cent to about 8.5 per cent in the past two years having exited the lucrative US market following a regulatory clampdown. CryptoLogic said it aimed to reduce annual operating expenses by $12m-$15m, and would build its new strategy around casino licensing, its most profitable business, offering its leading games to other gaming operators and developing branded content. It would continue developing its business and recent investments in China, South Korea and Singapore for long-term growth. Jim Ryan, PartyGaming chief executive, said CryptoLogic content would enhance its market-leading position. Brian Hadfield, his counterpart at CryptoLogic, said PartyGaming was one of its biggest customer deals “and an endorsement of the branded games element of our new strategyâ€. The deal is CryptoLogic’s ninth licensing agreement of 2008 and the company said it had “a healthy pipeline of pending opportunitiesâ€. Copyright The Financial Times Limited 2008

[Fonzie14]

Re: William Hill to iPoker and Crypto to Party Some discussion here. http://www.thehendonmob.com/forum/viewtopic.php?t=24103