CryptoLogic to seek more European licensees

Online bingo games operators and UK online bingo halls who use software developed by former Canadian company CryptoLogic Inc may be interested in the recently revealed plans by the company to revamp its business model with even more emphasis on the European market and away from the legal issues plaguing the US market.

The continuing fallout from the Unlawful Internet Gambling Enforcement Act (UIGEA) has plagued CryptoLogic enough for it to concentrate on acquiring new licensees in Europe. The company moved from Canada to set up its headquarters in Dublin, Ireland, so as to be closer to the European market.

In comments reported by EGR, CryptoLogic’s Vice President of Product Management and Business Development Justin Thouin explained that the move has been prompted by a need to increase share values. “Cryptologic sees its share price as undervalued, and consequently it views an expansion strategy as vital in going forward," he told EGR. "Essentially, Cryptologic is undergoing a very big change.”

A number of online bingo software providers and operators have had to withdraw from the US market due to UIGEA. The US law prohibits US bingo online players from engaging in financial transactions with non-US gaming operators.

"If we want to grow, we need to change the business model," Thouin added. "We are going to go after new licensees in a way we have not done for years. We are going to look at acquisions; we already made some acquisitions in the past year with Parbet.”

Written by Bingo Lady

Parlay bidders down to two as number of buyers fluctuates

The bidding action surrounding Canadian online bingo software developer Parlay Entertainment is starting to resemble a saga with the number of bidders yo-yoing on a daily basis it seems.

Media reports have tracked offers first from Chartwell Technology which eventually collapsed with the emergence of UIGEA, and then a more recent offer from PEIC Acquisitions for C$12.3 million. That offer came under pressure from rival bidders when it failed to complete the deal by its deadline. At one time, and including PEIC, there were three bidders in the action, but now that figure is down to two.

Rumours have it that the other bidder along with PEIC is UK gaming giant Ladbrokes. However, Ladbrokes, which also runs its own online bingo games operation, is remaining tight lipped about the speculation. It may be that Parlay’s US connections are causing pause for thought at Ladbrokes given the legal hassles stalking the free online bingo market in the wake of UIGEA.

Written by Bingo Lady

Net Entertainment reports strong 2007

n keeping with the recent emergence of Swedish online gaming companies asserting their presence in the online bingo world, online gambling software developer Net Entertainment has revealed a successful 2007 with an especially good fourth quarter.

CEO Johan Ohman said: "Net Entertainment's Q4 development was good, and net sales increased 12.5 % compared to Q3. The 32.4 % total net sales increase for 2007 should be compared with an average 23 % increase for European online gaming, according to Global Betting and Gaming Consultants estimates.

"Successful product development and continued strong market growth are major reasons for our success. Incoming orders continue to pour in, and we signed five new CasinoModule license agreements during Q4, for a total of 18 in 2007."

Net Entertainment is also planning the start of their entry into the Ukrainian market during 2008.

Ohman concluded his assessment of the last year saying: "The online gaming market is predicted to continue to grow positively, which benefits us through the organic growth of our current licensees. I believe that we are also better equipped than ever to win new strategic deals and thereby further reduce our dependency on existing customers."

Net Entertainment offers online bingo games and supplies software support to a number of online bingo halls. The company also has a strong involvement in Sweden’s land-based bingo industry provoking speculation amongst online bingo industry watchers that they may seek a stronger presence in the online bingo market.

Written by Bingo Lady

Entraction goes NYX for its online bingo operations

Swedish online gaming company Entraction has signed Scandinavian software provider NYX Interactive to provide its online bingo products for its launch of its new Spring offerings.

Entraction says its move into online bingo games complements its existing operations by bringing in a new target market attracted to games of luck. Free online bingo has gained in popularity in the Scandinavian market, particularly with female online bingo players. A number of established Scandinavian gaming companies have identified bingo online as a growth industry worth investing in.

Peter Astrom, Entraction’s CEO, claims online bingo completes the company's product range along with poker, sports betting and casino action.

Staffan Lindgren, CEO at NYX Interactive says the deal with Entraction is important to the global ambitions of his company. NYX Interactive online bingo product incorporates a user friendly chat function designed to enhance the experience of those that play online bingo.

Written by Bingo Lady

Foxy Bingo not to renew Katie Price contract

ATE Online is reporting that Bingo Street favourite Foxy Bingo will not to be renewing its association with UK glamour model Katie Price. Foxy Bingo has said its decision is due to a change in its marketing strategy.

Despite calling Ms Price the "perfect professional" during their association with her, Foxy Bingo is moving away from celebrity endorsements.

"The idea was to bring a bit of extra life to the online bingo space and shake it up with a fresh exciting personality," Simon Collins, commercial director at Foxy's parent company Cashcade said. "Katie was brilliant in that role, garnering plenty of press coverage."

He continued: “She proved a fantastic building block for Foxy, helping shift perceptions of the brand and the image of bingo into the mainstream, creating a more youthful image."

The Foxy character will now be the main focus of the site’s promotional material. Foxy Bingo has been a perennial favourite amongst UK online bingo players and ranks as one of the top online bingo halls at Bingo Street.

Written by Bingo Lady

Patrick Duffy is playful in a bingo sort of way

Just a little notice to my regular online bingo industry readers – my computer needs a little maintenance which means I will not be posting any updates for two or three days.

In the meantime I’ll leave you with this little tidbit of info I picked up from the US. If there are any bingo online players out there who remember a certain Patrick Duffy of 80’s TV Dallas fame, you might be interested to know that he’s just picked up the job as Bingo America’s host. Bingo America is a GSN TV quiz show with a bingo game element to it created by National Bingo Night founder Andrew Glassman.

“Bingo is such a family pastime,” says Glassman, adding that: “Patrick embodies everything we whished for – not only is he TV’s marquee good-guy leading man, he is also playful and has a great sense of humour.”

My comment: So ‘Bingo is such a family pastime’ in the US is it? Then why does the US need UIGEA to protect it from UK online bingo halls and free online bingo operators? This smacks of hypocrisy – no matter how playful ol’ Patrick is.

See you in a two or three days…

Written by Bingo Lady