CryptoLogic Casino for Russia
October 15, 2008
CryptoLogic were unusually out of the spot light during the past twelve months. The Online Gambling software development company recently restructured and relocated its headquarters to Dublin and spent this period settling and restructuring. The company also reviewed its business plan regarding the exit from the US market and finding alternative markets to target. During this time, the company did not make any headlines in the media, therefore, it comes a surprise that CryptoLogic announced a multi-million dollar to supply services to Russia through Kurastica.
CryptoLogic and Kurastica are joining to offer gambling services to the Commonwealth of Independent States (CIS) of Russia. The Russian market in online gambling is extremely underdeveloped due to tight restrictions in the market place. The deal between Kurastica and CryptoLogic will allow CryptoLogic to have a firm hold on the Russian market and allow the opportunity to develop the market further.
According to the latest information the new site should be operational during the first quarter of 2009. CryptoLogic’s recent focus has been on strategic country development plans and entering new markets that we previously not developed. The new deal secured CryptoLogic majority control on the Commonwealth of Independent States of Russia market.