Leading software providers Cryptologic shares rocketed ten percent this week when it was announced that the company had extended a contract with a top online gambling site. The company's largest customer, which operates several sites, agreed to extend the
This news was received well by the market, which caused the prices of the shares to therefore increase.
Overseas Internet Gaming Entertainment is the owner and operator of two top sites - Inter Casino and Inter Poker. While the software provider was celebrating on the one hand over the extended contract, another deal with a different site fell through. Ritz Club decided not to extend its contract with the company, but is not expected to have a major impact on the software providers financials because it was a small deal less than 2% of Cryptologic's revenue.
Software providers are the power behind the sites. Their games and software are what makes the sites what they are. The software providers have to constantly update and upgrade their games in order to make them more attractive to their clients' cutting edge technology is what it is all about. With new features and attractive gaming software being pushed onto the sites all the time, the consumer wins hands down in this game.
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