Rank Interactive Online Gambling Cryptologic Sign Deal
Share prices for both Cryptologic, the originally Canadian online gambling software developer and Rank Interactive, Rank Group's online gambling division were up slightly on the announcement that they have penned a long term deal. The agreement is for Cryptologic to supply Rank Interactive with at least ten of it's online wagering games. Orbis Technology, a global platform solutions provider to the betting industry, will provide CryptoLogic with recurring revenue based on wagers placed by Rank Interactive's customers. The platform will power all of the games for Rank Interactive's, Blue Square, Mecca Bingo and GC Casino. Two of the games are live now and before the end of 2009 more are to come. All are expected to be online by the first part of next year. Twenty eight licensees are now in Cryptologic's portfolio with the Rank Interactive addition. The Vice-President of Cryptologic Justin Thouin, said in a statement, "Demand for our games remains strong as illustrated by this agreement with Rank Interactive, a well respected UK brand. With each new licensee, we open up a new recurring revenue stream that will improve our profitability and long term growth prospects." The Gaming Director at Rank Interactive, Angus Nisbet, said, "At Rank Interactive we have been looking to build on our success and expand our increasingly popular games offering. By striking this deal with Cryptologic our customers is gaining access to the very best and most innovative betting games on the market, enhancing our relationship and revenue prospects going forward." Cryptologic Limited continues to be a leader in the online gambling software industry. It has more than 280 games, with one of the most comprehensive casino suites on the Web. Its licensees include many of the world's best known Internet gaming brands already and can now be proud to include Rank Interactive as one of them.
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