Cryptologic Heads to Russia

Online gaming giant Cryptologic will be expanding into the Eastern European/Asian market through its newly penned deal with Kurastica, a gaming company with extensive coverage in the Commonwealth of Independent States. The Commonwealth of Independent States consists of many of the former Soviet run countries such as Ukraine, Armenia and Uzbekistan, Russia is a member as well. The new agreement will put Cryptologic’s award winning casino and gaming software into millions of waiting customers hands by 2009.

Cryptologic’s casino and gaming software is packed with over two hundred different casino games ranging from common table games to uniquely themed video slots. Kurastica, the company Cryptologic is partnering with, has been in the Russian market for some time now and has extensive experience in the market. Kurastica has a management team wrought with experience ranging from former casino and club professionals and designers from the online gaming industry. The qualities of each company make for a natural partnership in terms of the Russian market. Kurastica’s vast experience in the CIS and Cryptologic’s award winning software will make for an excellent partnership.

Cryptologic is excited to be expanding into the CIS for a number of reasons. The area currently has a fast growing internet economy and there is a deeply rooted gaming culture that Cryptologic looks to tap into. With Kurastica at the helm, that’s very likely to happen.

The deal between Cryptologic and Kurastica will make Cryptologic’s downloadable software available to customers in the CIS through a number of different channels. The multi million dollar deal is slated to last several years and should go live in the first quarter of 2009. Cryptologic is one of the larger online gaming software producers in the world. They are traded on the London Stock exchange, The Toronto Stock Exchange and the NASDAQ Global Select Market.