Cryptologic Signs First Big Licensing Deal in 18 Months

Gaming software company Cryptologic has signed a supply deal with Société du jeu virtuel du Québec (SJVQ), a subsidiary of Loto-Québec. SJVQ operates an online gambling site called EspaceJeux.com which acts as the Canadian state lottery official site.

Cryptologic will supply SJVQ with 14 of its best online casino and lottery-based games throughout 2012. The first game is already present on the website and players are welcome to visit the site and play it. The remaining games will be launched on the site one by one over the next 10 months.

This is Cryptologic first new licensing deal in 18 months and news of it comes only days after Canadian-based Amaya Gaming Group Inc. has announced that it would be making a formal takeover bid for Cryptologic at US$2.54 per share, putting the company’s worth on US$35.8 million.

Amaya Gaming specializes in providing online gaming solutions for operators in regulated online gaming markets. The company already owns a small share hold of 7% in Cryptologic and has reached an agreement with Cryptologic board regarding the terms of the acquisition and hopes it would be completed soon.

The new supply deal and the takeover bid are great news for Irish-based Cryptologic which had a few difficult years falling behind such companies as Microgaming and Playtech. Now the future seems brighter for the company that introduced to the world InterCasino - the first ever online casinos launched back in 1997.