Internet gaming software developer CryptoLogic Ltd. (CRYP, CRP.L) said Monday that it signed multi-year agreement with UK-based bookmaker Totesport.
As per the terms of the deal, CryptoLogic has licensed at least six of its most famous branded and unbranded slot games for inclusion on its website www.totesport.com. By signing the deal, the total number of CryptoLogic licensees has reached 23.
According to CryptoLogic, its games have generated significant recurring monthly licensing revenues so far due to their rich content and compelling user experience. The company added that the games are being deployed through Orbis Technology, a global platform solutions provider to the betting industry, and are expected to go live in the third quarter of 2009.
Commenting on the agreement, Keith Oliver, e-Gaming and marketing director of Britain's state-owned Totesport, said, "Our agreement with CryptoLogic brings together two very trusted brands from bookmaking and gaming content. We are confident this collaboration will not only bring a new level of enjoyment for our customers but will also help to drive our ongoing expansion into online gaming."
Shares of CRYP closed Friday's trade at $6.30, up $0.04 or 0.64%, on a volume of 46 thousand shares.
CRP.L closed trade on June 12 at 400 pence.
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