CryptoLogic Inc., a leading software supplier to the Internet gaming and e-commerce industries, today announced that Lewis Rose, interim president and CEO, has been invited to present the company’s growth strategy and industry trends at the Deutsche Bank Investor Conference at 10:30am on January 10, 2003. CryptoLogic is honored to be the only Internet gaming software provider invited to address the Deutsche Bank Conference at the American Gaming Summit 2003 in Las Vegas, Nevada.
As a pioneer, CryptoLogic continues to help shape the future of online gaming. Internet gaming is a maturing, multi-billion dollar industry that is seeing a growing presence of major land-based operators recognizing the Internet as a synergistic extension of their business around the world. Recognizing this market shift, CryptoLogic continues to emphasize regulatory compliance comparable to the strict standards in land-based Togel Singapore gaming and expand its strong roster of international blue-chip customers. CryptoLogic’s success is also distinguished by its focus on old-economy fundamentals of cash flow and profitability, which has enabled the company to achieve global leadership in the vast, growing new economy of interactive gaming.
Mr. Rose’s presentation will be made available in the week following on CryptoLogic’s web site at www.cryptologic.com/investor.
Since its inception, American Gaming Summit has provided the highest level of financial and legal information about premier companies serving the gaming industry. Attendees at AGS include institutional investors; top-level executives with the major gaming, lodging and leisure companies; elected public officials; appointed regulatory directors; financial managers; commercial vendors to these businesses; and stock brokers, all of whom have an interest in this rapidly expanding industry.
Deutsche Bank Securities Inc. is the exclusive Investment Banking sponsor of the Ninth Annual American Gaming Summit, January 9-10, 2003, at the Rio All-Suite Hotel and Casino in Las Vegas. For more information, visit www.americangamingsummit.com.
About CryptoLogic (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Inc. is the leading software development company serving the Internet gaming market. The company’s proprietary technologies enable secure, high-speed financial transactions over the Internet. CryptoLogic, ranked #1 in the Profit 100 listing of Canada’s fastest growing companies, continues to develop state-of-the-art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic Ltd., a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to customers around the world.
CryptoLogic’s common shares trade on the Toronto Stock Exchange under the symbol CRY and on the Nasdaq National Market under the symbol CRYP. There are currently 12.2 million common shares outstanding (12.9 million shares fully diluted, based on treasury method).
A December 30th InterCasino Jackpot Pushes Online Winnings Past $5 Million
The last online casino mega-jackpot winner of 2002 was “amartin” who took home $82,283.25 playing Video Slots at InterCasino (www.InterCasino.com). That win was enough to put amartin in the InterCasino Five Million Dollar Club just 48 hours before the buzzer. The Five Million Dollar Club is made up of major jackpot winners whose combined payouts throughout 2002 topped $5,062,173.
As 2002 came to a close it was uncertain whether anyone would tap into the hundreds of thousands in jackpots that InterCasino had left on the boards before the year’s end. The famed Rags to Riches progressive Slot Machine, a very frequent payer held promise – as did the fantastically popular Spice Island Progressive Poker. But in the end it was a Video Slot Machine that broke as the bells of 2002 tolled their last.
“Since January 2002 we were hoping to give away more than $5 million in progressive jackpots, but once we got to the morning of the 30th we thought we would fall shy of our mark by about $20,000. I had the team on high alert and told them to find me wherever I was if we broke the $5 million threshold. When I got the call about amartin’s $82,283.25 win I literally jumped out of my chair and shouted ‘We did it – We broke the record!’ excited InterCasino manager Ryan Hartley recalls.
InterCasino’s record-breaking year is testimony to the industry estimates pinning 2002 as a major growth year for I-gaming. And while online casino gaming met the high expectations of analysts like Bear Sterns and Merrill Lynch in 2002, 2003 looks set to be another bumper year for the casino and for its players.
“We set a benchmark by giving away over $5 million in progressive jackpots in 2002, now we’ve only got ourselves to outdo in 2003” adds Hartley.