NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR : CryptoLogic Inc.
TSX SYMBOL: CRY
NASDAQ SYMBOL: CRYP
June 4, 2003
ukbetting, UK's Largest Independent Online Sports Content Provider, Launches New Poker Sites Using CryptoLogic Software
TORONTO, ONTARIO--
ALL DOLLAR AMOUNTS IN US$
CryptoLogic's multi-player poker technology is made available to millions of Europeans
CryptoLogic Inc., a leading software developer to the Internet gaming and
e-commerce industries, announced today that another leading European customer
has launched new online poker offerings that add to the increasingly large
global player community enjoying live poker action powered by
CryptoLogic-developed software.
Through an exclusive license agreement with CryptoLogic's wholly-owned subsidiary, WagerLogic Inc., ukbetting plc has now introduced WagerLogic's
Internet poker at its well-known betting sites, www.ukbetting.com and
www.totalbet.com. A licensed and regulated online sports book and the UK's
largest independent Internet sports content provider through its sites,
www.sportinglife.com and www.teamtalk.com, ukbetting targets its interactive
wagering and sports content services to a monthly user base of 3.5 million
European sports fans.
"The ukbetting group adds to the growing number of international brand name customers leveraging the success of our poker solution to expand into this big growth market on the Internet," said Lewis Rose, CryptoLogic's President and
CEO. "Since the launch of our poker product last fall, hundreds of players
worldwide play at our customers' sites every day, and have taken home tens of
millions of dollars in winnings. We have quickly proven ourselves as a
market-leading provider of online poker entertainment."
ukbetting's new online poker sites bring the land-based poker room experience, live to the Internet. ukbetting's fast-growing international customer base can
now enjoy the most popular poker games - Texas Hold'em, 7-Card Stud, Omaha High
and Omaha High/Low - with players from around the world, anytime of the day.
The scalability and liquidity of WagerLogic's centralized poker software ensure
that players can always find a game at their desired stake level. Players also
have the convenience and choice of currency - U.S. dollars, British pound
sterling or Euros - all at the same table. Single table tournament capability
is the most recent enhancement, providing a popular marketing feature that
increases player appeal and traffic.
"CryptoLogic has enabled us to quickly and easily introduce multi-player poker games to our interactive wagering services," said Eric Semel, Chief Executive Officer, ukbetting plc. "The success of their centralized poker technology in
multi-currencies means that our players can instantly enjoy live poker play - there is always a game. For ukbetting, we can leverage our extensive customer base and brand name to gain early entry into the large, fast-growing poker segment on the Internet with immediate market penetration and results."
About CryptoLogic (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Inc. is the leading software development company serving the Internet gaming market. The company's
proprietary technologies enable secure, high-speed financial transactions over
the Internet. CryptoLogic continues to develop state-of-the-art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic Ltd., a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to customers worldwide. For information, visit www.wagerlogic.com.
CryptoLogic's common shares trade on the Toronto Stock Exchange under the symbol CRY and on the Nasdaq National Market under the symbol CRYP. There are currently 12.2 million common shares outstanding (12.2 million shares on a
diluted basis, based on the treasury method).
About ukbetting plc (www.ukbetting.com)
Listed on the London Stock Exchange Alternative Investment Market, ukbetting plc (AIM: UKB.L) is a leading digital wagering operator as well as the largest
independent sports content provider in the U.K. that reaches 3.5 million unique users each month.
ukbetting provides its sports content services through www.sportinglife.com, bettingzone.co.uk and www.TEAMtalk.com. As well, Sportinglife supplies content to well known Internet Service Providers including AOL, BT Openworld and Yahoo.
In partnership with BT Openworld, ukbetting also provides video-on-demand sports programming across six channels through the U.K.'s first broadband
sports network, called Sportal OnDemand. The company's digital wagering services are provided through www.ukbetting.com and www.totalbet.com, with 150,000 registered betting customers. These sites offer in-depth information and the ability to place fixed-odd bets on a wide range of sporting events including horse racing, football, cricket, rugby, tennis and much more.
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release, which are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on licensees and key licensees, risks relating to international operations, risks
associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
CryptoLogic
Nancy Chan-Palmateer
Director of Communications
Phone: (416) 545-1455
or
CryptoLogic
Jim Ryan
Chief Financial Officer
Phone: (416) 545-1455
or
Argyle Rowland
Daniel Tisch
Phone: (416) 968-7311 (media only)
dtisch@argylerowland.com
or
Argyle Rowland
Rajani Kamath
Phone: (416) 968-7311 (media only)
rkamath@argylerowland.com
INDUSTRY : SOF