New Partnership

11/03/2008		New Partnership
Home History Games News Dictionary		Following CryptoLogic’s loss of major industry partner William Hill, the need to create a new affiliation became quickly apparent. With economic struggles continuing with no sign of relief, a tentative deal is being worked out between CryptoLogic and PartyGaming. According to the Financial Times, PartyGaming, parent company of PartyPoker, and CryptoLogic are looking to pool their poker networks to assist is cost cutting as the recession continues. The desire to stay high in the worldwide ratings for the gambling websites is also a motivating factor. WPT Enterprises made it known that their real money online poker website WorldPokerTour.com will be shut down on November 14th. With the new loss of William Hill to Playtech, Dublin, Ireland-based CryptoLogic decided quick action was the wisest course in creating a new partnership: their first choice was PartyGaming. PartyGaming’s numbers imply they would have just as much to gain if the deal were to go through. The corporation’s online market share has dropped from 40% of the market down to a mere 8.5% over the last two years. The primary cause of the loss was the passage of the UIGEA in October of 2006, when all American players were eliminated from the memberships. Once of the principal goals CryptoLogic has set up in the agreement is the objective to lessen annual operating costs for the company by at least $12 to $15 million. A strong partnership is the key to that end, as they hope to refocus energy on new strategies for casino licensing, and combining branded content with new leading games for their operators. Also in the plan is the intent to continue marketing for players in China, Korea, and Singapore. India-based Khel Galli has been receiving content and games from CryptoLogic and is one of the quickest growing online casinos in South Asia, offering both casino table games and poker to their members.

11/03/2008

New Partnership

Following CryptoLogic’s loss of major industry partner William Hill, the need to create a new affiliation became quickly apparent. With economic struggles continuing with no sign of relief, a tentative deal is being worked out between CryptoLogic and PartyGaming.

According to the Financial Times, PartyGaming, parent company of PartyPoker, and CryptoLogic are looking to pool their poker networks to assist is cost cutting as the recession continues. The desire to stay high in the worldwide ratings for the gambling websites is also a motivating factor. WPT Enterprises made it known that their real money online poker website WorldPokerTour.com will be shut down on November 14th. With the new loss of William Hill to Playtech, Dublin, Ireland-based CryptoLogic decided quick action was the wisest course in creating a new partnership: their first choice was PartyGaming.

PartyGaming’s numbers imply they would have just as much to gain if the deal were to go through. The corporation’s online market share has dropped from 40% of the market down to a mere 8.5% over the last two years. The primary cause of the loss was the passage of the UIGEA in October of 2006, when all American players were eliminated from the memberships.

Once of the principal goals CryptoLogic has set up in the agreement is the objective to lessen annual operating costs for the company by at least $12 to $15 million. A strong partnership is the key to that end, as they hope to refocus energy on new strategies for casino licensing, and combining branded content with new leading games for their operators. Also in the plan is the intent to continue marketing for players in China, Korea, and Singapore. India-based Khel Galli has been receiving content and games from CryptoLogic and is one of the quickest growing online casinos in South Asia, offering both casino table games and poker to their members.