CryptoLogic Debuts JackpotMania.com Linking Progressive Jackpots From Internet Casinos Around the Globe.Business Editors TORONTO--(BUSINESS WIRE)--May 3, 2001 After Record US$235,000 Win, Online Jackpots Offer Big Game Entertainment CryptoLogic Inc CryptoLogic Inc. is a Toronto-based online gambling software supplier, one of the four largest in the industry along with Microgaming, Playtech, and Real Time Gaming. CryptoLogic was founded by brothers Andrew and Mark Rivkin in 1995 from the basement of their parent's house. . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CRYP CRYP Cheyenne River Youth Project (Eagle Butte, SD) )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CRY.), a leading supplier of software to the Internet gaming and e-commerce industries, today launched JackpotMania.com, a cross-casino portal that connects 12 of the world's most popular brand name and land-based gaming organizations to worldwide progressive jackpots. Progressive games -- which offer fast-growing bonus jackpots that grow as more people play -- recently led to a record US$235,000 win at an online casino Online casinos, also known as virtual casinos or internet casinos, are online versions of traditional ("brick and mortar") casinos. Online casinos enable gamblers to play and wager on casino games through the Internet. , and their continued growth is expected to drive significant traffic to sites that use CryptoLogic's software. "With Internet gaming expanding so quickly, the competitive edge will belong to operators with big names, big jackpots and trusted technology," said Jean Noelting, 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. of CryptoLogic cryp·tol·o·gy n. The study of cryptanalysis or cryptography. cryp  to·log .
"At JackpotMania.com, CryptoLogic is opening the door to the
biggest potential jackpots in online gaming See gaming. . These progressive jackpots
-- which can be won by anyone, anywhere in the world -- will be a huge
marketing draw for the brand-name casinos that have chosen
CryptoLogic's safe, secure e-gaming technology. And what's
good for our licensees is good for our business."
Just months after CryptoLogic launched its first progressive games linking two Internet casinos, a player won US$235,000 playing Caribbean poker at www.thesands.com -- the largest known win in Internet casino gaming history. Now that CryptoLogic is linking 12 of the world's premier online casinos, jackpots are expected to build even more quickly and larger. To date, casinos using CryptoLogic's software have paid out over US$4.9 billion in winnings. The company expects to benefit from the increasing popularity of these sites and new gaming options to drive traffic and revenue. JackpotMania.com offers a single online destination featuring six new progressive slots, video poker and Caribbean poker games. The site brings together some of the best-known gaming brands, including InterCasino.com, WilliamHillCasino.com, TheSands.com, KiwiCasino.com, Casino8Online.com, CasinoeBet.com, OmniCasino.com, VIPCasino.com and both the English and Spanish versions of CasinoSur.com and FiestaCasinos.com. The progressive jackpot games feature US$0.25 and US$1.00 "Triple Olives" slots and "Super Jackpot" video poker, as well as a tabletop progressive counter on Caribbean poker tables with a starting value of US$100,000. Also, CryptoLogic recently released a brand-new US$1.00 slot "Rags to Riches" with a starting value of US$100,000. Available at one easy-access location or through any of CryptoLogic's participating licensees, JackpotMania.com runs real-time tallies displaying each growing jackpot as games are played simultaneously across these online casinos, around the world. The JackpotMania.com Web site will feature winner information, links to CryptoLogic-licensee contests and special offers, e-mail notification to alert players when jackpots reach high levels and an affiliate program. About CryptoLogic CryptoLogic Inc. is a leading software development company serving the fast-growing Internet gaming market. The company's proprietary technologies enable secure, high-speed financial transactions over the Internet. CryptoLogic continues to innovate and develop state of the art Internet software applications for both the electronic commerce and Internet gaming industries. WagerLogic, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CryptoLogic, is responsible for the licensing of its gaming software and services to customers around the world. 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. as CRY and on Nasdaq as CRYP. There are currently 13.1 million common shares outstanding (15.7 million shares fully diluted). For more information, visit www.cryptologic.com and www.wagerlogic.com. CRYPTOLOGIC FORWARD-LOOKING STATEMENT forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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