The online gaming software developer confirmed that Betfair, one of the company\’s poker-only customers, will move to an in-house technology solution at the end of October 2006. As previously announced, Betfair\’s departure is expected to have no material adverse effect on CryptoLogic\’s 2006 financial results.
“As a technology company, Betfair is unique amongst our customer base so this is a natural progression for them. We are pleased to have enjoyed a mutually beneficial relationship,” said Lewis Rose, CryptoLogic\’s President and CEO. “CryptoLogic\’s record 2006 year-to-date earnings show that we continue to profit from a well-diversified portfolio of products, clients and markets. With the recent announcement of Playboy joining CryptoLogic\’s blue-chip Internet casino and poker client base, we look forward to continued growth overall.”
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