Archive for September, 2008

Cryptologic Comes out of the Closet at EiG 2008

Online casino software developer, Cryptologic, is being welcomed with open arms by the organizers of the European iGaming Congress and Expo (EiG), and online gaming industry professionals as a whole, following a more subdued presence at expos over the last couple of years. Perhaps instigated by the company’s restructuring and relocation to Ireland, not to mention certain repercussions caused by the U.S. Unlawful Internet Gambling Enforcement Act (UIGEA), Cryptologic has indeed been taking a behind-the-scenes approach to its marketing activities.

But all that’s about to change says Cryptologic CEO, Brian Hadfield, who is himself scheduled to attend a panel conference at the expo titled, “The Software Suppliers Speak.” You can guess what all the “speaking” will entail, but rest assured it will be about some very important issues. The world’s top online casino software developers - Cryptologic being amongst them - are the movers and shakers of the gaming industry itself.

Cryptologic isn’t holding back in the least bit with their newfound energy, and their presence at EiG will be nothing short of ubiquitous. The company will serve as a featured sponsor of the expo, which is quite possibly one of the most important in the gaming industry. Focusing on the ever-expanding European betting market, EiG is a breeding ground for online casino operators, software developers, affiliates, marketers and tech companies.

Just what gets “bred” is fair game. Cryptologic’s presence is primarily about letting their potential future and current customers, such as the famed UK InterCasino, know they have every intention to keep building and expanding their product offering, says Hadfield. Specifically, this amounts to a brand new website highlighting Cryptologic’s new online casino games, such as the highly anticipated “Street Fighter II” video slot, “Bejeweled” and the popular Marvel Comics progressive video slot series. There’s a good chance they will also be talking about new fraud prevention protocols being adopted (see the recent OCS report, “Cryptologic Heightens Security With Ethoca Ltd.”).

EiG kicks off today, September 23, 2008 and runs through the 25th. It’s all going down in Barcelona, Spain at the Centre Convencions Internacional Barcelona, with headquarters set up at the Hilton Diagonal Mar! Clarion Gaming is the event organizer. Immediately following EiG from the 25th -28th is the premier affiliate convention CAP Euro, hosted by Casino Affiliate Programs.

Casino Slots Manufacturer, IGT, Faces Tougher Times

If there’s one thing that’s been a constant in the casino gambling world, it’s that International Gaming Technology has been a solid performer for not only the casinos and the gamblers who love to play their unique slot machines, but just as important, for the company’s shareholders. Even with the onset of a sluggish economy and a forewarning of hard times to come, not to mention a downturn in the slot machine market itself, IGT has been a pillar in the eyes of the casino gambling market.

So, when IGT’s Chief Operation Officer, Steve Morro, announced his resignation last week, some gaming analysts are beginning to wonder just how “well” IGT is actually doing. The Las Vegas Gaming Wire was the latest to reiterate such speculation, which IGT is apparently taking more serious. I mean, considering stock prices are down nearly 60% from their fifty-two week high of $49.41 (you do the math), IGT certainly has good reason to reexamine company structure.

A spokesperson for IGT strongly denied any rumors that companywide layoffs were on the horizon. IGT’s Chief, TJ Matthews said the company is in a “restructuring mode” that will ultimately help to reduce expenses. Indeed, the notion of reducing expenses is commonly undertaken with employee layoffs, but apparently, things haven’t gotten that bad off. Matthews himself will be covering the duties of Morro (not to mention Chairman and President), which some analysts worry could spread the company out too thin.

However, Matthews is considered one of the best in his field, and certainly knows a thing or two about the casino gambling industry. In the short run, things will likely remain the same or even get worse. But with some mindful budgeting and prospects of a rebounding economy, Matthews hopes to keep IGT at the top of the pack. One thing is certain: IGT’s subsidiary online gambling software developer, Wager Works, isn’t struggling one bit. Licensing one of the top UK facing online casinos in business - Virgin Casino - as well as an increasing roster of high profile companies, Wager Works will be making a great contribution to keeping IGT afloat.

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