WPT Online Poker to Move to CryptoLogic Gaming Network

Online poker and gaming software developer and turnkey provider CryptoLogic Inc. and poker entertainment giant WPT Enterprises Inc. (WPTE) announced a three-year contract yesterday that will move the World Poker Tour's (WPT) gaming site for the international market to the world's largest non-US shared gaming network.

The agreement, entered into with CryptoLogic's wholly-owned subsidiary, WagerLogic Limited, will introduce CryptoLogic's popular poker software while delivering a unique WPT look and feel. The new WPT poker room is expected to launch in June 2007.

"Liquidity is a big deal in this business," said Steven Lipscomb, President, Founder and CEO of WPTE. "CryptoLogic has proven itself to be an industry leader that delivers a superior product. This deal ensures that starting with day one of our online gaming re-launch there will be a plethora of cash games and tournament offerings available for our customers on a stable and proven platform."

"We will launch with a look and feel unique to World Poker Tour and will work with WagerLogic to incorporate additional WPT features that will begin to redefine and distinguish our product and customer experience."

"It is the perfect strategic step for both companies, as World Poker Tour and CryptoLogic are pioneers in the global gaming phenomenon," said Javaid Aziz, CryptoLogic's new President and CEO (click here to read about Aziz's appointment).

"WagerLogic's flexibility in working with licensee-specific software needs, as well as its adherence to strict regulatory standards and our shared commitment to growth in markets where on-line poker is embraced, are just some of the key factors that brought WPT and CryptoLogic together."

In line with the Unlawful Internet Gambling Enforcement Act (UIGEA), none of WagerLogic's licensees takes wagers from U.S.-based players.

The three-year contract between WagerLogic and WPT will run until June 30, 2010, with an expected go-live date for poker in June 2007.

WagerLogic will also provide the eCash services and support and customer call services to the WPT gaming sites. WagerLogic will also develop a suite of casino games for WPT, which will include Blackjack, Roulette, Millionaire's Club, Bejeweled and The Hulk.

In other related news, CryptoLogic Inc said it had applied to de-list its shares from the Toronto Stock Exchange, the Nasdaq, and the Official List of the UK Listing Authority, and will also cancel trading in its shares on the London Stock Exchange's EEA Regulated Market.

The move comes as part of the company's decision to move its headquarters from Canada to Dublin, Ireland (click here to read article on their move).

A new parent company, CryptoLogic Ltd, is expected to be listed on the TSX, Nasdaq, and UK Official List in June, a company release on AFX-UK said.

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