Software Provider Still Lucrative
The international online casino gambling media is all abuzz over the news that
Sportech will no longer operate on the CryptoLogic gaming platform, and instead
has switched to 888.com’s integrated gaming platform. The CEO at CryptoLogic,
Brian Hadfield, addressed some industry concerns that the loss of a major
licensee would negatively impact the company’s year-end revenue predictions. The
fact is, although Sportech is a well known brand in the European market, it is
certainly not the only online casino gambling site generating revenue for the
company. Added to that, CryptoLogic is also offering games on the new 888.com
integrated gambling platform, so the company will in fact retain a portion of
its existing player-base.
CryptoLogic released a press release late this week to really quell some of the
issues and dispel some false rumors. According to Hadfield, the Sportech online
casino and poker sites only generate four percent of the company’s total
revenue. And while that still represents a significant amount of lost revenue,
Hadfield was quick to also note that the company is signing several new
licensees this summer whose online casinos will make up for the lost revenue.
Additionally, CryptoLogic’s deal with the 888 gambling groups integrated online
casino gambling platform means that Sportech players will have access to several
of CryptoLogic’s most popular internet games. Beyond just that fact though, some
of Sportech’s players are actually loyal to the CryptoLogic online gambling
platform and will then switch to a new CryptoLogic licensee so they can find
their favorite games.
Hadfield really stressed in the press release that the company is completely
solvent, even without the Sportech brand. He notes, “CryptoLogic’s customer base
has never been larger – and our customer pipeline has never been healthier.”
Several new CryptoLogic powered online casinos will launch in the coming months. |