Party Poker Possible Merge with CryptoLogic

A report was published by the Reuters news agency and spoke of a rumor that Party Poker may partner with Cryptologic to “increase liquidity while reducing expenses substantially.” The two companies are not denying the rumors and saying they are negotiating a possible partnership to see if there is any value in working together. Reuters explained that both Cryptologic and Party Gaming have entered into a separate 5 year licensing agreement, which means the two companies will collaborate in the upcoming years, even if they decided not to merge.

The new deal gives Party Gaming the ability to access several of the Cypotologic’s popular branded slot machines that include, The Fantastic Four, Spider man, Street Fighter and much more. The games are expected to be available for Party Poker players by summer of 2009.

“We are delighted to welcome PartyGaming as our latest partner. This is one of CryptoLogic’s biggest customer wins of the year and an endorsement of the branded games element of our new strategy. It proves that when you combine great innovation and excellent execution, you get expansion. PartyGaming has chosen six CryptoLogic games that represent four different partnerships with world-famous entertainment brands. It is a clear validation of CryptoLogic’s branded gaming strategy - and our success in delivering a superior customer experience.” said Brian Hadfield, CryptoLogic’s President and CEO.

“PartyGaming and CryptoLogic are two of the biggest names in Internet gaming - and we are excited to bring some of CryptoLogic’s greatest games to our players for the first time This agreement reflects PartyGaming’s strategy to broaden our product base - and grow our player base - through innovative alliances. Because these games will be great for our players, they will be good for our business.”  said Jim Ryan, PartyGaming’s Chief Executive Officer.