Cryptologic to retain its Biggest Customer

Cryptologic, one of the world’s biggest and the most respected online gaming software provider recently declared that it would continue its commercial agreement with its biggest and one of the oldest customers (OIGE) Overseas Internet Gaming Entertainment NV. OIGE, one of the world’s leading online casino groups, owns InterPoker.com and InterCasino.com. Both the websites are extremely popular with the online gamblers and players due to the excellent software from Cryptologic. According to the deal, OIGE will use the online gaming software provided by Cryptologic for its online websites until 2012. Cryptologic would continue to get its royalty from OIGE according to the prior agreements.

"By reaffirming a long term relationship with our largest customer, we are following CryptoLogic's guiding principle of achieving the highest "ROE" - what we call return on effort from our customers, products and projects. We aim to continue to deepen our relationships with our major customers, while continuing active discussions with select new prospects that will enhance our roster of blue-chip global gaming and entertainment brands" said the CEO of Cryptologic, Lewis Rose.

Cryptologic further revealed that it would be ending its commercial agreement with Ritz Club London in or before October 2006. Sources from within the company said that it would not have much of an impact on the company’s financials as Ritz formed only a small part of Cryptologic’s revenues.