Steve
Morrow's online and land-based gaming experience an
asset to dedicated texas holdem poker team
CryptoLogic, a leading software developer to the global
Internet gaming market, announced the engagement of
Steve Morrow of Paradigm Poker Consultants as a
consultant to assist in the design and development of
the product plans for online poker. Morrow's extensive
expertise in both land-based and online poker will help
the CryptoLogic group continue to capitalize on the
rising popularity of poker, one of the fastest-growing
segments of Internet gaming around the world.
"In a
short time, our licensees' central
texas
holdem
poker room
has grown to be the fourth highest revenue generating
room on the Internet, and Steve Morrow will help
CryptoLogic continue this exciting momentum," said Lewis
Rose, CryptoLogic's President and CEO. "Steve's
considerable experience and track record in poker will
be a tremendous asset as CryptoLogic continues to invest
in its poker strategy."
Morrow has 15 years of
texas
holdem
poker
experience. He has directed both the largest land-based
tournament, the 2002 World Series of Poker, and the
largest online tournament, the 2002-03 World
Championships of Online Poker. Morrow has worked with
some of best-known names in the gaming industry and
helped them build highly profitable businesses.
With his extensive knowledge of
texas
holdem poker
tournament
formats and
texas
holdem
poker
gaming, Morrow will lead further development in the
company's online poker offering including emphasis on
large scale tournament structures that drive increased
player traffic and larger cash prizes as well as
enhanced customer support capabilities. He will provide
valuable guidance to CryptoLogic and its dedicated poker
team, which now represents almost 20% of the company's
development group.
"CryptoLogic is the blue chip company in the world of
Internet gaming software - an organization known for
profitability, integrity and innovation," Morrow said.
"This year, CryptoLogic has moved into a position of
global leadership in Internet poker, and my job is to
help build on their work - and their success."
Poker is a major growth area for CryptoLogic, which has
grown rapidly to account for 15% of the company's
revenue in the first half of 2004. The company continues
to strengthen its position in
texas
holdem
online
poker with steady growth in its poker licensees and new
investment in its product offerings and system
scalability. CryptoLogic-developed poker software has
earned the confidence of the world's top gaming brands.
The company's licensees' central poker room now ranks
number four on the Internet in today's $1 billion online
poker market, according to PokerPulse.com, an
independent research site.
About CryptoLogic(R) (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Inc. is
a leading software development company serving the
global Internet gaming market. The company's
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 Limited, a subsidiary of
CryptoLogic, licenses its gaming software and services
to customers worldwide. For more information on
WagerLogic(TM), visit www.wagerlogic.com.
CryptoLogic's common shares trade on the Toronto Stock
Exchange (symbol: CRY), on the Nasdaq National Market
(symbol: CRYP), and on the Main Market of the London
Stock Exchange (symbol: CRP).
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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