CryptoLogic is to merge its poker network with Boss Media's International Poker Network (IPN) from the first quarter of 2009. CryptoLogic revealed a poker tie-up was on the cards with another platform recently when it announced that it would focus on its casino licensing business, leading to widespread speculation that PartyGaming would be the partner poker network.
The migration of its poker operations and customers to the Boss Media network is expected to generate savings for CryptoLogic of between US$12m and US$15m per year. Chief executive Brian Hadfield said the deal represented “a major step in our journey back to growth, profitability and returning shareholder value”, while Atul Bali, president of Boss parent company GTech’s New Media & Sports Betting, said the deal would deliver some much-needed liquidity to the networks: “We are delighted to welcome these customers and their players to our network and significantly increase the liquidity for our new enhanced player base," he said.
CryptoLogic poker licensees, including the InterPoker and Parbet brands, are on schedule to join the IPN in early 2009, St Minver, another GTech subsidiary, will provide a fully managed customer management solution to Crypto's poker licensees.
Showing posts with label Boss. Show all posts
Showing posts with label Boss. Show all posts
November 12, 2008
August 19, 2008
Boss Media responds to asset freeze claims
Boss Media has responded to a news article published this morning claiming the First Hall Civil Court of Malta had found in favour of claimant Poker Trillion and frozen Boss Media’s assets and ordered its web servers to stop commercial activity form 18 September 2008.
The dispute between Boss and Poker Trillion originated when the latter was thrown off Boss Media’s poker network for “rake back violations”. Poker Trillion then launched a lawsuit against Boss after its dismissal from the network in April and asked for a freezing order to be applied to all Boss media’s assets in Malta, the jurisdiction where Boss is licensed.
Boss has continued to operate since and described the actions and comments by Poker Trillion as “a reckless attempt to support a legal action that is without merit and initiated as retribution for their dismissal from the Boss Media network”.
Commenting on the court’s verdict this morning, Andy Pyrah, chief executive of Poker Trillion, said: “Today’s decision will in effect bring down Boss Media’s operation in their licensed jurisdiction in Malta on September 18, and any partner on the Boss (IPN) poker network at this stage will see their service closed down too.”
Boss added that there had been preliminary hearings on the lawsuit and “assured that adequate security is provided in Malta in the event of an award of damages against it which we believe to be unlikely”. It said it had “the requisite assets in place to ensure that our business will continue to operate with the highest standards. In the extremely unlikely event that any Malta operations would be affected, Boss Media have high-performance back-up systems in place to ensure continued service to all our customers and their players”.
The statement by Boss added: “To be clear, player funds are not affected by the current proceedings. All players’ funds are held separately under the control of the Malta Lotteries and Gaming Authority and cannot be seized by any court.
“Poker Trillion is a former customer of Boss Media who was terminated because of rake back violations. They have since then repeatedly tried to disrupt the Boss Media business through the dissemination of groundless rumours. In April 2008 Poker Trillion alleged in a press release a claim that among other things, Boss Media player funds were frozen. The allegations were false but typical of the type of tactics employed by Poker Trillion.”
The dispute between Boss and Poker Trillion originated when the latter was thrown off Boss Media’s poker network for “rake back violations”. Poker Trillion then launched a lawsuit against Boss after its dismissal from the network in April and asked for a freezing order to be applied to all Boss media’s assets in Malta, the jurisdiction where Boss is licensed.
Boss has continued to operate since and described the actions and comments by Poker Trillion as “a reckless attempt to support a legal action that is without merit and initiated as retribution for their dismissal from the Boss Media network”.
Commenting on the court’s verdict this morning, Andy Pyrah, chief executive of Poker Trillion, said: “Today’s decision will in effect bring down Boss Media’s operation in their licensed jurisdiction in Malta on September 18, and any partner on the Boss (IPN) poker network at this stage will see their service closed down too.”
Boss added that there had been preliminary hearings on the lawsuit and “assured that adequate security is provided in Malta in the event of an award of damages against it which we believe to be unlikely”. It said it had “the requisite assets in place to ensure that our business will continue to operate with the highest standards. In the extremely unlikely event that any Malta operations would be affected, Boss Media have high-performance back-up systems in place to ensure continued service to all our customers and their players”.
The statement by Boss added: “To be clear, player funds are not affected by the current proceedings. All players’ funds are held separately under the control of the Malta Lotteries and Gaming Authority and cannot be seized by any court.
“Poker Trillion is a former customer of Boss Media who was terminated because of rake back violations. They have since then repeatedly tried to disrupt the Boss Media business through the dissemination of groundless rumours. In April 2008 Poker Trillion alleged in a press release a claim that among other things, Boss Media player funds were frozen. The allegations were false but typical of the type of tactics employed by Poker Trillion.”
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