Monday 5th May 2008 CryptoLogic To Release $1.2 million To Its Online Advertising Group
Dublin-based Internet gambling software developer CryptoLogic Limited has announced that its recently acquired Casino.co.uk gaming portal along with its other related online casino and poker assets significantly exceeded post-closing performance targets over the past six months.
CryptoLogic stated that it would be releasing an additional $1.2 million to leading online advertising group Media Corporation as part of an earn-out agreement for Casino.co.uk made through its Gaming Portals Limited subsidiary.
The developer announced that Casino.co.uk has been accretive to its earnings from the start and is expected to continue to grow over both the short and long-term. It stated that the acquisition has enabled it to offer advertisers both a premium portal and new opportunities to reach their markets.
'CryptoLogic's investment in Casino.co.uk has been a 'win-win' for everyone involved,” said Brian Hadfield, President and Chief Executive Officer for CryptoLogic.
“Generating new revenue for our business and new opportunities for advertisers so that they can deliver even more exceptional experiences to players everywhere.'
Source: OnlineCasinoNews
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