Cryptologic Technology Renews Contract with Online Casino
Online casino technology provider, Cryptologic has extended its contract with a top online casino, which has caused its shares to rise. Cryptologic, a leading online casinos technology provider’s shares rocketed ten percent this week when it was announced that the company had extended a contract with a top online casino. The technology company’s largest customer, which operates several online casino sites, agreed to extend the contract until June 2012. This news was received well by the market, which caused the prices of the shares to therefore increase.
Overseas Internet Gaming Entertainment is the owner and operator of two top online casino technology sites – Inter Casino and Inter Poker. While the online casino technology provider was celebrating on the one hand over the extended contract, another deal with a different online casino fell through. Ritz Club online casino decided not to extend its contract with the company, but is not expected to have a major impact on the technology provider’s financials because it was a small deal – less than 2% of Cryptologic’s revenue.
Online casino technology providers are the power behind the sites. Their games and technology are what makes the online casino sites what they are. The technology providers have to constantly update and upgrade their games in order to make them more attractive to their clients – cutting edge technology is what it is all about. With new features and attractive gaming technology being pushed onto the online casino sites all the time, the consumer wins hands down in this game.