Cryptologic Powers Up Online Casino in Canada
Feb 10, 2012
Loto-Quebec has announced a new deal that will see their Espacejeux casino powered by Cryptologic casino gambling software.
Business has just picked up in Quebec, if leading casino gambling news stories are to be believed. Canadian online casino Espacejeux, which is operated by the provincial state lottery corporation Loto-Quebec, has just signed a deal to have it software provided by Cryptologic.
The deal is rumored to involve the release of fourteen new games by Cryptologic over the course of the next twelve months, with the first slots game, Bejeweled, already currently active on the site.
Cryptologic, said to be more than excited by the deal, couldn’t hide their enthusiasm and success for their own product enough when asked, and Ian Price, who is the Group Head of Business Development at Cryptologic had the following to say: “Working with governmental organizations such as Loto-Quebec underpins Cryptologic’s reputation for delivering innovative but also responsible gaming solutions.”
The General Manager of Espacejeux, a Mr. Francois Poulin was equally boastful about his own company’s prospects following the agreement between the two. He stated that in such a small period of time, the online casino had developed and built a reputation for innovation and integrity. Mr. Poulin also praised Cryptologic, saying that the games involved in the deal would see the online casino offer a more diverse and enhanced casino experience for gamers.
It isn’t all roses and champagne at Cryptologic though. As we speak, Amaya Gaming, which already has a 7 percent stake in Cryptologic, is gathering momentum to buy the remaining shares, in a bid to buy out the company. Amaya Gaming, based in Montreal, Canada, has offered to buy those remaining shares at $2.54 per share.
At present, Cryptologic’s worth would therefore be around $35.8 million, although the news of Cryptologic’s deal with Loto-Quebec and Espacejeux is certainly going to alter that.Indeed Canadian casino news, reports that the share values have already risen by 7 percent.
This will not deter Amaya Gaming however, whose CEO David Baazov, says that both companies share the same fundamental values and business philosophies. Amaya Gaming sees the acquisition of Cryptologic as part of a process that sees the company expanding its sighs and reach across the online gaming world, and enriching its client database.
Whether or not Cryptologic will be interested in selling out, and what it will cost Amaya to ensure of the merger, following this latest deal with Loto-Quebec isn’t fully understood. But for the moment at least, it seems Canadian gamers can enjoy the latest slots, online blackjack and other gambling, with Cryptologic powering Loto-Quebec’s Espacejeux.
Tags: Amaya Gaming, casino gambling software, Cryptologic, CryptoLogic Inc, David Baazov, Espacejeux, Francois Poulin, general manager, Head of Business Development, Ian Price, Loto, Loto-Quebec, Lottery, M&A, Montreal, Online blackjack, online casino, online gaming world, Quebec, responsible gaming solutions, USD