SOURCE: Press Release

(Dublin, Ireland) — CryptoLogic Limited, a world leader in Internet gaming software, today confirmed that the company will not be affected materially by a narrow vote by Dutch parliamentarians that will prevent Holland Casino from establishing an Internet gaming site.

While CryptoLogic had hoped to benefit from the establishment of such a site, the company has been fully compensated for its development work and has other revenue-generation initiatives underway in both Europe and Asia.

“While advocates of safe, secure and regulated e-gaming are disappointed with the Dutch decision, CryptoLogic never places all its bets on one table,” said Brian Hadfield, CryptoLogic’s President and CEO.

“That’s why this decision will have no material impact on our business. We recognized the challenge in Holland early and prepared our business by accelerating other revenue-generating initiatives.”

CryptoLogic expects to benefit from various new initiatives this spring and summer.

These include the release of non-download poker for all customers; the launch of the new World Poker Tour casino; a fresh release of casino games; and new software development for Betsafe, Sun Poker and World Poker Tour’s German- and Spanish-language products.

The company also has a healthy pipeline of potential new licensees.

One year ago, CryptoLogic announced a licensing contract with Holland Casino, the Netherlands’ government-licensed casino operator.

The agreement was subject to ratification. This week, the decision not to allow the Internet casino was taken in a narrow 37-35 vote.

The decision contrasts with the approaches of the United Kingdom and other nations that are opting for the fiscal and consumer protection benefits that come with regulating Internet gaming.

CryptoLogic has long advocated a regulated and transparent gaming environment for the protection of players and the benefit of taxpayers in all countries.

CryptoLogic remains one of the first and only software providers that has earned government certification in the world’s most stringent regulatory jurisdictions.

“CryptoLogic will continue to advocate regulation as the logical solution for all Internet gaming stakeholders – including players, investors and taxpayers,” Hadfield said.

“CryptoLogic will remain focused on delivering ground-breaking, customized innovations to the world’s blue-chip gaming and entertainment brands — and on growing our business around the world.”