Posts Tagged ‘cryptologic’

Struggles of Online Casino Software Giant Result in a Resignation & Layoffs

Saturday, August 14th, 2010
At this rate, Cryptologic Software may just find a place in the museum...

At this rate, Cryptologic Software may just find a place in the museum...

All I can say is Holy #%&*! When I checked out the news headlines today and saw that top-tier online casino software developer, Cryptologic, reported 2nd Quater losses of $12 million and $16 million in losses for 2010 thus far, my mouth dropped and those were the words that came out. God forgive me. Better yet, God, please forgive Cryptologic’s longtime, now-former CEO, Brian Hadfield, who announced his resignation along with the 2nd Quarter report.

And not that Hadfield personally needs to do any repentance. I don’t know, maybe he does. But to blame a single person for one company’s performance isn’t entirely fair. Mr. Hadfield certainly brought plenty to the table when we was appointed Director of the company little over three years ago and CEO just ten months thereafter. Playing an active management role at Unisys for over twenty years, Hadfield oversaw a workforce of 9,000 employees as Managing Director and grew the company’s revenue nearly a quarter to over $1 billion.

So ya, going from said success to a company which was already sort of in the danger zone, is a big change to say the least. Personally, if I was CEO of a company and had to explain a $16 million quarter loss, I’d probably step down as well. But then again, I guess Cryptologic hasn’t been doing that well for quite some time.

In my opinion, I think it was the passing of the UIGEA and the company’s decision to drop out of the U.S. market that put a major toll on the software developer. Also, other than Inter Casino, Cryptologic doesn’t have an impressive cadre of online casinos and wide area progressive jackpots as say Microgaming or Playtech.

More specifically, it was Cryptologic’s decision to focus on licensing it’s online casino software platform to third party operators, rather than creating an online casino platform of it’s own – a business model which Playtech Software has accomplished with great success – that several industry analysts have blamed Cyrptologic’s woes on. Even with clients the likes of Betfair, Ladbrokes, Paddy Power and Victor Chandler, not to mention a licensing agreement with Marvel and DC Comics (resulting in some impressive big-brand online slot machines), Cryptologic has remained in the red since 2007.

I mean, at this stage in the game, it really makes you wonder about all those anti-Cryptologic websites out there claiming the company is run by the Russian mafia. Why is Cryptologic reporting all these losses, while the rest of the industry (at least top-tier software developers) are still doing just fine? Why is Brian Hadfield really resigning from his post? Conscience gotten the best of him? Too much vodka breath, aka Russian mafia breathing down his back?

Conjecture aside, Cryptologic is a NASDAQ and London Stock Exchange-listed company and one of the “founding fathers” of the online gambling industry. The “propaganda” out there, however, could be having more of a negative impact than anyone would like to admit…other than those spreading it, of course.

As for the future fate of Cryptologic, that will be in the hands (on a interim basis) of Chairman, David Gavagan. In the meantime, the company plans on making cuts to its 200+ workforce, none of which will take place in the company’s Dublin-based headquarters, where roughly 20-30 employees still hold post.

41st Annual Comic-Con International to Draw Light on Marvel Online Casino Slots

Thursday, July 1st, 2010

InterCasinoMarvelSlotsWith the 41st Annual San Diego Comic-Con International taking place this month, it seems fitting to give a nod to super heroes. More specifically, for the sake of this blog, it seems fitting to give a nod to the original Marvel super hero slots by Cryptologic Software.

Of course, now there is Marvel slots by Playtech – and Cryptologic has even expanded it’s own repertoire to include DC comic book characters – but for now, let’s keep our sites focused on Cryptologic’s contribution to the world of online gambling super heroes. I mean, after all, Cryptologic’s Marvel Slots have become the most successfully branded online slots to date.

Currently, there are seventeen different Marvel comics branded in Cryptologic’s Marvel Slots series, with some superhero’s even getting multiple versions. Hulk, for example, has two titles under his belt: “The Incredible Hulk” and “Hulk – The Ultimate Revenge”. Think of it as just as another comic in the series, or in the case of online casino gambling, more ways to wager.

The indomitable Spider Man also has two titles: “Spiderman” and “Spiderman Revelations”. Again, it’s pretty much the same theme and playing structure but with different ways to wins, bonus rounds, and of course, a slightly different story line told by Cryptologic’s impressive animation graphics.

Other titles in the Marvel Slots series include, “Captain America”, “Blade”, “Ghost Rider”, “Iron Man”, “Silver Surfer”, “Daredevil”, “The Punisher”, “The Sub-Mariner”, “X-Men”, “Electra”, “Fantastic Four”, “Thor” and for when you just can’t get enough Wolverine from the X-Men slot, there is a game dedicated to the razor bandit himself, fittingly titled, “Wolverine”.

Besides the entertainment value itself, another reason why Marvel online casino slots are so popular with players is the fact that they offer random jackpots and are interconnected with their own wide area progressive jackpot of sorts. To win one of three random jackpots, one needs to only be playing. No winning symbol combination is required, and the size of the jackpot depends on the size of the wager.

For more details and information on playing rules and jackpot awards, be on the lookout for a new blog series reviewing each and every one of  Cryptologic’s Marvel Superhero slots.

In the meantime, OCS recommends giving longtime UK favorite online casino, Inter Casino, a visit and opening a free account. Inter Casino allows players to wager in “fun mode”, offering unlimited practice credits to try out all of their online casino games, including their full suite of Marvel Superhero Slots. And if and when you are ready to play for real money, you might want to consider stretching your bankroll with a 100% Match bonus which was recently upgraded from £125 Free to £225 Free (Bonus claim code ICWCB). With hardly any game restrictions and a low 12x play-through requirement, this is certainly a bonus worth claiming. Read the OCS Inter Casino Review for more information.

Cryptologic Begins Arbitration Against Marvel Entertainment for Superhero Casino Games

Wednesday, April 21st, 2010

Marvel Sluts, Marvel Slots

Anyone care for some Marvel Sluts, err, I mean Marvel SLOTS...my bad!

Leading online casino software developer, Cryptologic, has long been associated with comic book themed slot machines – in particular, the enormously successful Marvel superhero slots series. Their diverse portfolio of nearly twenty titles, consists of player favorites like Spider Man, The X Men, Fantastic Four, Incredible Hulk and many others.

However, for anybody relatively new to the world of online casino gambling, there’s a chance these very same slot titles have become associated with Cryptologic’s rival casino software developer, Playtech. The reason being – obviously enough – is that Playtech thought it necessary to essentially copy Cryptologic and engage a competitive assault, if you will.

While all this is “fair play” in the corporate industry, the only catch is that Cryptologic’s subsidiary, WagerLogic, claims (in a recently modified arbitration proceeding) that Marvel Enterprises Inc. breached it’s deal with WagerLogic, which apparently stipulated that Cryptologic would be the “sole developer of Marvel-branded online casino slot games”.

Said contract was made back in October of 2005, and was later extended in June of last year. It was in March of 2008 that Playtech apparently approached Marvel with a licensing proposal of their own, and was also awarded an “exclusive” licensing contract to turn Marvel’s most popular superheroes into casino, poker and bingo games as part of Playtech’s internet, television and mobile phone gaming platforms.

Anyone looking in from the outside would have to agree that Marvel was clearly in the wrong to award two “exclusive” licensing deals to two competitive companies at the same time. However, WagerLogic may try to claim that Playtech’s deal was made with Marvel Entertainment’s Netherlands-based subsidiary, Marvel Characters BV.

Arbitration proceedings (which Cryptologic says it attempted to avoid by engaging an internal resolution) will now be handled by the New York based JAMS – the largest private provider of corporate mediation and arbitration services in the States.

AusCasino Partnering With InterCasino and Catering to the Land Down Under

Monday, April 19th, 2010

Not to presume that Online Casino Suite is drawing a large Australian demographic or anything, I still want to tell everyone about a new Australian online casino. Oh wait…take that back – it’s not new after all. In fact, it’s Australia’s oldest online casino period. Oh wait, or is that Lasseters. Oh hell, I don’t know. It’s old. How’s that?

Anyhow, the online casino I am referring to is none other than AusCasino.com. A fitting name to say the least, AusCasino has plenty of things going for it right now – the least of which is a partnership with Inter Casino. Don’t ask me what that partnership entails, because neither site has had much to say about it, other than a message on the homepage of AusCasino to this effect.

The other reason why AusCasino should be in high spirits right now is that legislation is on the table (albeit stalled as of yesterday) to liberalize and regulate online gambling. There is no denying that online gambling is a huge industry in Australia. As reported in a recent study, Australians spent an estimated $790 million in overseas online gambling wagers during 2008. Increasing since 2002, annual wages are certain to rise in 2010.

So, if you are from Australia and are looking to spend a buck online gambling in your homeland, then look no further than AusCasino. They currently offer over 200 online casino games, including Cryptologics popular Marvel superhero comics series of games like Wolverine and Iron Man, as well as the recently launched DC Comics slots series, which include Superman and Batman.

The homepage of their website may look a little unprofessional (that’s just my opinion, of course), but don’t let that fool you. AusCasino.com is properly regulated and stands to offer an excellent return on your wager – both in terms of odds and entertainment.

Inter Casino Gets Makeover in More Ways Than One

Thursday, March 11th, 2010

If you haven’t been over to Cryptologic-powered Inter Casino in the last few months, now is a great time to give the “oldest” online casino in business today, a visit. I say “oldest” in parentheses simply because there are other online casinos sure to argue they were launched before Inter Casino, but if you ask me – all things considered – Inter Casino is the oldest, having launched in 1996.

So, what’s all this fuss about dropping by Inter Casino these days? Well, most importantly, there are some great new bonuses and promotions being offered for non U.S. players right now. Secondly, Inter Casino has received a huge design makeover, pretty much making their website entirely unrecognizable to players who knew it since, well, pretty much since it was launched nearly fifteen years ago.

At first, I thought the extent of Inter Casino’s makeover was a little too much, but then considering how long Inter Casino has kept the same look going, it made more sense they were feeling the need to give their image a complete makeover. It’s like that pair of jeans you’ve grown so used to wearing. Sure, they do the job and stay on your butt, feel comfortable and  look nice. But times are a changin’, and fashion/design is especially an evolving phenomenon.

This also explains Inter Casino’s recent decision to launch a Twitter page and tap into the booming social media networking sector. A smart decision, if you ask me, for there is no denying the role of social marketing in an increasingly competitive World Wide Web. The fast-paced world of Twitter seems especially suited to the ever-changing online gambling industry.

For more information on Inter Casino, as well as all of the new promotions and bonus offers being offered, including a 100% slots bonus up to £125 Free and a 100% games bonus up to £80 Free, read the OCS Inter Casino Review. The new logo will give you a taste of the new design.

The Unspoken Affair: Cryptologic and Playtech Privy to Online Sports Betting

Tuesday, December 15th, 2009

Playtech Cryptologic Affair

Oh, how the days of online gambling do change. I remember when Microgaming and Cryptologic were like the only two online casino software providers in business – reputable one’s at least. The biggest bone of contention back then was who got credit with launching the first online casino (Inter Casino or First Web? or neither!) and who had the better security protocols. Later on, it was basically who had the most casino games. These days, there are practically too many casino games and software developers to even keep up with (but don’t worry, OCS still keeps up with all of them 🙂 )

While Microgaming has pretty much stayed the course over the years with their original product offering – online casino software – Cryptlogic and Playtech (who came out a couple of years after Microgaming and Cryptologic), have taken it upon themselves to diversify within the online gaming industry as much as possible. And it seems, these days, that whatever Cryptologic does, Playtech follows suit – and vice versa.

I remember laughing when Playtech announced it had obtained licensing rights to develop Marvel Superhero characters into slot machines, just like Cryptologic did a couple years prior. Whether it was coincidence or good timing, just shortly after that, Cryptologic seemed to one-up Playtech, announcing they had obtained exclusive rights to license DC Comic’s superhero characters, as well as several Paramount movie titles.

And how could one forget the drama that unfolded when Will Hill Casino left Cryptologic for a younger, sexier Playtech? It was like an episode of “Guiding Light”, minus the fake tans. On that note, goodbye “Guiding Light”. Apparently you were on the radio and T.V. for seventy-two years – and to think I never got to watch…err, chose to watch a single episode :(.

So, now that both Playtech and Cryptologic are making motions to enter the online sports betting sector, I can only help but wonder who will one-up the other first. Cryptologic is apparently very close to making a deal with French betting empire, Mangas, to partner up with European football focused, BetClic, while Playtech is working on launching a sports betting product as a result of acquiring Player2Player earlier in the year and figuring ways to maximize its newly acquired connections with Unibet and Bwin via a recent buyout of skill games provider, Gaming Technology Solutions.

If you ask me, I think it needs to come down to performing pranks on one another at all future online gambling conventions. Or, even better, seeing who can host the better party. What’s that I hear? Microgaming is giving away free cases of Stella at their next party. Oh wait, Playtech just announced they will be giving away free cases of Stella AND free back massages courtesy of this year’s Sports Illustrated swimsuit models. Now, we’re talkin’.