Online Casino to Leave Waterlogic Technology
Online casino technology developer Waterlogic made headlines this week following the announcement that the Ritz Club intends to cease the licensing of its technology by October 2006. In light of the developments, Waterlogic management’s has been quick to reassure the online casino industry that the development will have “no material impact” on its annual results. Currently business from the online casino company constitutes less than two percent of the technology developer’s total revenue.
While speculation has surrounded the announcement, the online casino technology developer is eager to focus on more positive news. A statement made quickly on the back of the Ritz Club’s announcement revealed that the gaming firm is about to extend its exclusive licensing agreement with Overseas Internet Gaming Entertainment. The firm is the current owner of well-known online casino sites Interpoker and Inter Casino. Its royalty agreement with the online casino technology developer is expected to continue on its current course until 2012.
The increased level of competition in the online casino industry does not affect online casino firms solely. In recent years, the demand for the latest technology and technology has forced technology providers to the online casino industry to invest heavily into research and development efforts. It remains to be seen which firm will become Ritz Casino’s new technology provider.