Cryptologic teams up with 568 Network

Cryptologic Limited has announced that it is to buy a $1.2 million stake in online casual game developer 568 Network Inc.
The deal will give Cryptologic, a gambling software developer and turnkey provider, a stronger foothold in Asia.
In addition, the agreement gives CryptoLogic the option of taking a controlling position in 568 Network, which develops and distributes games to the Chinese market, in the future.
Asia has huge potential as a market for online gaming and CryptoLogic president and chief executive officer Javaid Aziz says he has high hopes for the company’s future in Asia.
CryptoLogic already has interests in Asia, a region where, Aziz says, “the stakes are rising” because of its large population, its gaming culture and the burgeoning rate on internet use.
The agreement between the two companies enables them to set up a new China-based venture that will develop and distribute casual, skill-based games for the local and overseas Chinese-language markets.
Online pool, poker, puzzles and card games will be among the games on offer.
568 Network has seen significant growth in the last two months with 350,000 new registered players, and boasts approximately 4,000 players online at any time.
George Chen, chief executive officer of 568 Inc says that the partnership between the two companies has huge potential for growth.
568 Network is also involved in the hugely popular massively multiplayer online role playing games (MMORPGs) which allow millions of players to take part in one game online. It operates a number of MMORPG games for the North American market.

Casino News: Cryptologic teams up with 568 Network

Cryptologic teams up with 568 Network