Cryptologic
Invests in Online Mahjong in China
August 28 - This week leading online gambling software vendor
Cryptologic Ltd revealed that its investment in Mahjong Time
- which develops mahjong puzzle gaming software - is paying
dividends after the company signed a licensing deal that will
give it access to 50% of the Internet cafes in China.
In April last year, Cryptologic - whose online gambling
software powers some of the most popular online gambling sites
in the world - acquired a minority stake in Mahjong Time for
$2.5 million. Under the agreement, Mahjong Time will have a
presence in over 30 Chinese provinces and 251 cities via 1,200
wholesale distributors.
Said Cryptologic president and CEO Brian Hadfield, 'We are very
pleased with our investment in Mahjong Time as all of our Asian
investments are meeting and in some cases exceeding their
targets as well as ours. We knew the global mahjong online
gambling market had huge potential which is fast turning into a
reality.
'As our Asian business continues to grow, our investments in
different partners and platforms have enabled us to penetrate
each market more effectively which will ultimately benefit our
customers, our players and our shareholders,' he said.
It is no secret that Asia is fast becoming the next major
geographic area for online gambling, and industry experts report
that China is now the largest Internet market in the world with
253 million users, surpassing the United States for the world's
number one position.
Said Mahjong Time CEO William Sutjiadi, 'Due to Cryptologic's
investment, we have been able to grow our company even more
quickly, and capitalize on the enduring popularity of Mahjong
that is currently enjoyed by over 600 million people throughout
the world.
'Our symbiotic partnerships with various Asian licensees
demonstrates Mahjong Time's commitment to work with companies
that offer value and vision, as well as to deliver the best,
safest and most robust online gambling software solutions to our
customers,' he said.
Cryptologic powers award-winning international online casino
Intercasino. Read our mini
Intercasino review here.
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