Cryptologic Moving to Ireland

Online gaming software developer Cryptologic announced last week that shareholders almost unanimously approved a plan that will reconstitute Cryptologic, Inc., into a wholly-owned subsidiary of Cryptologic Limited.  The new company will be incorporated under Guernsey law and headquartered in Dublin.  The change will go into effect June 1. 

One of the main goals of the move is for the company to be closer to Europe, its primary market and home of many of its business partners.  Cryptologic also feels that the new location will better facilitate its entrance into Asia.    

"CryptoLogic's plan to establish a new corporate headquarters in Europe is about investing for our future, and charting a course for growth in both Europe and Asia," said Javaid Aziz, CryptoLogic's President and CEO. "By approving our new corporate headquarters, shareholders are clearly on board with our plan to grow CryptoLogic through geographic expansion and diversification in the industry's most attractive markets. I thank them for their confidence in our vision, our strategy and our team." 

Some poker fans have wondered whether getting out of North America is a sign that Cryptologic may open its doors for U.S. customers again, but this will almost certainly not happen until the legal climate changes in America.  Cryptologic only drew about 30 percent of its revenue from the U.S. before the company-imposed ban, so it would not be worth any potential risk.