CryptoLogic Ltd. (CRYP, CRP.L) announced that its newly acquired gaming portal, casino.co.uk, and all related Internet casino and poker assets have significantly exceeded established post-closing performance targets over the past six months.
According to the earn-out agreement for the gaming portal, made through CryptoLogic's wholly owned subsidiary, Gaming Portals Ltd., CryptoLogic will release an additional payment of GBP 625 thousand to Internet advertising group Media Corporation Plc.
CryptoLogic said that Casino.co.uk has been accretive to earnings from the outset, and is expected to continue to grow over both the short and long term. Further, the acquisition has enabled CryptoLogic to offer advertisers both a premium portal and exceptional, new opportunities to reach their markets.
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