| | Excellent Online Casinos News Archive| Online Casinos Jump Ship | | | Publication Date: 11 Aug 2005 | | CryptoLogic one of the biggest providers of online casinos software had some bad news to report by the loss of one key online casino client. It was speculated that the online casino software provider was likely to lose one of their major clients Bet Fair a well known operator of online casinos and poker gaming. Right now it looks like they may not go with CryptoLogic.
Bet Fair have plans to launch an online casino specializing in poker, with CryptoLogic supplying the gaming. It now looks like the UK based company has apparently backed out of the agreement and is looking at the possibility of developing the software in house to keep costs down.
CryptoLogic’s stock price dropped by 25% to $21.77 after the news of the online casinos came out. The deal with Bet Fair would have accounted for a chunk of future earnings and therefore has caused a serious downturn in their stock but it is also predicted that the maker of online casinos software will bounce back.
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