CryptoLogic Announces New Poker Software For Satellite Tournaments.TORONTO -- ALL DOLLAR AMOUNTS IN US$ Enhanced tournament capability drives bigger prizes and excitement for online poker fans worldwide CryptoLogic Inc. (Nasdaq:CRYP CRYP Cheyenne River Youth Project (Eagle Butte, SD) ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CRY) (LSE LSE - Language Sensitive Editor :CRP C-reactive protein (CRP) A protein present in blood serum in various abnormal states, like inflammation. Mentioned in: Pelvic Inflammatory Disease CRP, n.pr See C-reactive protein. ), a leading software developer to the global Internet gaming market, announced today the release of expanded tournament capabilities in the newest version of its highly popular online poker software to be offered through its WagerLogic(TM) subsidiary. Poker Version 3.4 introduces satellite tournaments that allow licensees to host multi-level, multi-table tournaments to generate increased player traffic, larger cash prizes and provide the infrastructure for WagerLogic licensees to offer large scale tournaments. "Tournaments are an exciting and proven way to attract players and drive increased critical mass, and the enhancement of our poker tournament technology is an example of the market-responsive offerings that has made CryptoLogic cryp·tol·o·gy n. The study of cryptanalysis or cryptography. cryp  to·log a global leader in Internet gaming," said Lewis Rose, CryptoLogic's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "CryptoLogic's investment in the growth of poker is clearly producing positive returns. Our licensees' central online poker room now ranks number four and continues to be one of the fastest growing rooms on the Internet." Satellite tournament capability in the new software enables licensees to offer major poker events. As a result, WagerLogic's poker licensees recently introduced a cross-licensee tournament called Caribbean Poker Classic(TM). Players can enter at different price levels and during multiple rounds to win a seat at the final championship event in December, 2004 with an estimated prize pool of $1,000,000. New Poker Version 3.4 is available at some of the world's top Internet gaming sites including williamhillpoker.com, betfairpoker.com, interpoker.com, littlewoodspoker.com, classicpoker.com, ukbettingpoker.co.uk, theritzclublondon.com, caribbeansunpoker.com, totalbetpoker.co.uk, and pokerplex.com. CryptoLogic also announced the engagement of poker expert, Steve Morrow, as a consultant to help develop the company's product plans for online poker, specifically leveraging the significant appeal of tournaments. With 15 years of poker experience, Morrow has directed both the largest land-based tournament, the 2002 World Series of Poker The World Series of Poker is the largest set of poker tournaments in the world. It is held annually in Las Vegas, lasting just over a month. A bracelet is awarded to the winner of each of the fifty-plus events which include all the major varieties of poker. , and the largest online tournament, the 2002-03 World Championship of Online Poker The World Championship of Online Poker (WCOOP) is an online poker tournament series sponsored by PokerStars. Established in 2002 as the online equivalent of the World Series of Poker, the WCOOP tournament series is the largest of its kind on the Internet. Poker now exceeds 15% of global Internet gaming revenue and has flourished into a $1 billion market. CryptoLogic is advancing its position in the online poker arena with steady licensee growth and investment in system scalability and product offerings. CryptoLogic-developed software has earned the confidence of some of the world's top online gaming brands, and now powers the fourth leading poker room on the Internet according to PokerPulse.com, an independent research site. The success of WagerLogic licensees' central poker room is reflected in: a total average cash pot of $6 million won each day; 400,000 hands of poker dealt every day for up to 3,300 players online simultaneously; and total player registrations currently exceed 150,000 from over 120 countries. About CryptoLogic(TM) (www.cryptologic.com) Focused on integrity and innovation, CryptoLogic Inc. is a leading software development company serving the global Internet gaming market. The company's technologies enable secure, high-speed financial transactions over the Internet. CryptoLogic continues to develop state-of-the-art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic Limited, a subsidiary of CryptoLogic, licenses its gaming software and services to customers worldwide. For more information on WagerLogic(TM), visit www.wagerlogic.com. CryptoLogic's common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (symbol: CRY), on the Nasdaq National Market (symbol: CRYP), and on the Main Market of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. (symbol: CRP). CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER: Statements in this press release which are not historical are forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on licensees and key licensees, risks relating to international operations, risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements. |
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