Online Turnkey Provider Acquires Portal
The firm which specializes in developing new technology for the online gambling community has managed to form an impressive capital reserve. The firm licenses its gambling platform to major brands in the industry and its financial status is highly positive. Now, Cryptologic, is using that very capital to acquire internet gambling firms. Under a new agreement between the company and Media Corp plc, the popular gambling portal Casino co uk will become the property of Cryptologic.
Media Corp said again that selling the portal was a part of the company’s efforts to investigate other markets. However, selling such an important asset at this time seems unlikely. The deal is valued at about GBP 3 million and that is probably what convinced Media Corp to give up one of the most popular gambling portals on the net. Cryptologic will keep the portal running at its current format until further notice. Currently, online casino firms use the portal to advertise their online gambling offers and this will remain the business model of the website. The new acquisition comes at a great time for the technology supplier as things are about to change in the industry. Online gambling advertising is being discussed in the United Kingdom and much revenue could be generated from this sub-market.
It’s interesting to see how firms that did not have a direct connect to gambling and gamblers and starting to formulate other ways of reaching the gambling public. By offering gambling platforms, Cryptologic was dealing with the very heart of the online casino gambling world, but it was not responsible for the actual gambling act of the players. Now, the firm is moving onward into the field of gambling advertisement and the connection to the players becomes closers. We will continue to follow this story and see how other firms that used to offer technology alone are becoming dominant players in the world of online casinos.