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April 2, 2008
Online gaming software developer Cryptologic’s new CEO has provided some clues into the company’s future via an interview with Irish publication The Tribune. CEO Brian Hadfield made comments on his company's technology, which is used by a number of online bingo games operators and online bingo halls, pointing out that Cryptologic has shown an annual profit throughout its 13-year history. He adds that the company is targeting new markets, especially in Europe and Asia. "Our plan is to continue to expand, and part of that is almost inevitably through acquisitions," said Hadfield, who reportedly has three new acquisitions already targeted. The company currently operates out of Dublin with offices in Toronto, Minsk, Kiev and Singapore. Cryptologic’s move to Ireland was prompted by the passage of the US’ Unlawful Internet Gambling Enforcement Act (UIGEA) in December 2006. The move reflected the company’s belief that Europes large number of customers offered alternative markets and that it also provided a greater proximity to the growing Asia markets. "This is a good mid-point for our business between Toronto and Asia, " said Hadfield. Speaking of Ireland, Hadfield said: "It's a good place to do business here, and it's a gaming-friendly environment." He added further that: "Ireland doesn't have a regulated online gaming regime in place at the moment," According to Hadfield Cryptologic's legal advisers expect Ireland to enact legislation similar to Britain's industry-friendly 2005 Gambling Act. "The government of Ireland is open minded enough to consider that type of framework. We believe that regulation and responsible gaming is important, and so we endorse jurisdictions that support that," he said. The UK’s current regulated online gaming industry fosters a strong and growing online bingo sector where there is a growing trend amongst traditional bingo players looking to play bingo online. "Two years ago we had a strategy of fewer large licensees and we were less aggressive. Now it's a very different market . . . a very different world . . . as the focus is not on the US but more on Europe and Asia and therefore we have adopted a more aggressive outlook and strategy," Hadfield said. Written by John Witherspoon – Need the best online bingo games? BingoStreet.com collected the best online bingo promotions and free bingo games online.
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