Business Wire – CryptoLogic Inc., a leading software supplier to the Internet gaming and e-commerce industries, is pleased to announce today further expansion into the European gaming market with Sports.com, one of the world’s largest Internet sports brands and Europe’s leading digital sports channel.
Through a license agreement with CryptoLogic’s wholly owned subsidiary WagerLogic Limited, Sports.com will use CryptoLogic’s robust online gaming technology to extend exciting Internet casino gaming to the millions of users that visit Sports.com.
The arrangement with CryptoLogic will also give Sports.com the ability to offer regulated online sports betting services to non-US players at other CryptoLogic licensees. CryptoLogic has taken a financial interest in Sports.com to secure these long-term agreements.
“Sports.com is an exceptional opportunity to increase CryptoLogic’s European reach,” said Jean Noelting, president and CEO. “This newest licensee is a perfect fit with CryptoLogic’s strategic priorities: a new brand name relationship and a major European play that expands our international business.
“By leveraging its brand strength, extensive user community and European-wide marketing network, Sports.com has a winning combination for leadership in today’s competitive online gaming market.”
Sports.com is one of the largest Internet sports brand and content providers in the world. Published in five languages, Sports.com has the highest traffic digital network for sports information and betting in Europe with almost 7 million audited unique users via the Internet and wireless devices.
Regulated and operating in the UK, Sports.com provides its global users – no U.S. bets accepted – an online wagering service on all major sports and events as a natural complement to its real-time, live and comprehensive sports coverage.
Sports.com is the primary sports content provider to some of the world’s best-known online Togel Singapore news sites in the UK, France, Germany, Spain, Italy and the U.S. including Yahoo, AOL and Lycos as well as supplying news and results to more than 30 newspapers in the UK.
Sports.com’s broad-reaching success has been supported by strong financial partners such as Soros Private Equity Partners, IMG, Reuters and Goldman Sachs.
Tom Jessiman, CEO of Sports.com said, “It’s only fitting to bring together CryptoLogic’s expertise in online casinos to complement Sports.com’s rapidly developing sports betting business. This strategic relationship leverages our extensive user base and leadership position as Europe’s champion sports destination on the Web.
“We can capitalize on the power of the Sports.com brand and our European-wide presence to dramatically grow our business, drive incremental revenue and enhance customer relationships. We are also excited about the opportunity to offer a fully regulated sports betting option to non-US players at other CryptoLogic’s licensees just as we currently do for a number of notable affiliate partners.”
Targeted for launch this spring, Sports.com’s new online casino games will be initially Java-based for instant-play and in British Pounds Sterling, which will make it easy and convenient for its users.
CryptoLogic has taken a financial interest in Sports.com for approximately US$6.0 million to secure long term agreements at a higher revenue share, a preferential position on advertising and promotion through Sports.com’s extensive network and an opportunity to increase CryptoLogic’s position.