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01
May 2008
CryptoLogic's
Gaming Portal Exceeds
Targets
CryptoLogic
have announced that its newly
acquired gaming portal,
casino.co.uk, and all related
Online
Casino
and Online
Poker
assets have significantly
exceeded established post-closing
performance targets over the past
six months.
As
part of an earn-out agreement for
the gaming portal, made through
CryptoLogic's wholly-owned
subsidiary, Gaming Portals
Limited, CryptoLogic will release
an additional payment of Pounds
Sterling 625K to leading Internet
advertising group Media
Corporation plc (Media
Corp).
Casino.co.uk
has been accretive to
CryptoLogic's earnings from the
outset, and is expected to
continue to grow over both the
short and long term. The
acquisition has enabled
CryptoLogic to offer advertisers
both a premium portal and
exceptional, new opportunities to
reach their markets.
"CryptoLogic's
investment in casino.co.uk has
been a 'win-win' for everyone
involved - generating new revenue
for our business, and new
opportunities for advertisers, so
that they can deliver even more
exceptional experiences to
players everywhere" said Brian
Hadfield, CryptoLogic's President
and CEO.
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