CryptoLogic Moves Deeper into the Asian Market
The global economy is growing and online gambling firms keep expanding their business into foreign markets. The online turnkey provider CryptoLogic decided that it’s interested in a large share of the market and goes into a $6.1 million deal with Asian developer Mikoishi Studios. The famous online gambling software provider will deliver games from a top Asian developer and improve its access to the growing market. CryptoLogic expects that earning will start showing as early as 2008. Finding the right partners has been essential to CryptoLogic’s dramatic growth in Europe, and it will be key to CryptoLogic’s future growth in Asia,” said Javaid Aziz, CryptoLogic’s President and CEO.
As part of the deal, the online gambling firm will be granted access to Mikoishi’s platform that allows games to be ported to wireless devices. Because the Asian public is much more involved with wireless products and works almost exclusively with its wireless devices, such a system is imperative for CryptoLogic to reach a larger audience. In Europe, most players use online casino sites and do not gamble through mobile phones. Whenever companies try a global step such as moving into foreign markets, issues arise. The public doesn’t respond the way the firm is used to and adjustments needs to be done. Going deeper into the market with such a deal could prove to be destructive, but it could also be highly contributive.
All in all CryptoLogic seems to be doing the right thing. Working with a local brand is always good for business and using a platform that will bring its product closer to people is highly important. Hopefully, we will see the company use its resources wisely and gambling in Asia will take a step forward. The market is obviously growing, but it’s important to have dominant software providers that can take things to the next level.