The Canadian developer of online gambling software said its deal with Betfair will continue until June 2006 with an option to extend to January 2007.
“We have enjoyed a mutually profitable relationship with Betfair and we are pleased that the relationship will continue in 2006,” said Lewis Rose, Cryptologic\’s CEO.
Back in August, Betfair, which accounts for 5 to 10 per cent of CryptoLogic\’s revenue, announced a plan to develop its own technology and take poker provision in-house, causing CryptoLogic to drop about 17 per cent of its market value in one day.
Today shares of Cryptologic rose 7 per cent.
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