The history of this company is inspiring in many ways. It was launched by the two brothers, Andrew and Mark Rivkin, from their parents’ basement in the house in Toronto in 1995. By 1996, the siblings already had their first contract with a major online operator, InterCasino. While the company’s story turned out to be rocky and dramatic, and the studio had to later merge its powers with another brand, InterCasino stood the test of time and is still up and running today.
At a certain point, it seems like things were going okay for Cryptologic. From a staff of two enthusiasts in a basement, it grew to a corporation listed on NASDAQ and employing 300+ professionals. It grew its portfolio to 200+ quality slots and table games and had contracts with some of the biggest online operators in the industry.
However, in 2011, the news broke that the company experienced a financial crisis. Looking for ways to stay afloat, it hired outside advisors from Deloitte, and issued the official statement: “This review is at an early stage and will consider a number of strategic options, including the possibility of an offer being made for the company or disposal of part of the business. The Board wishes to stress that there can be no certainty that any offer will be forthcoming.”
By 2012, even bigger news broke that Cryptologic is accepted a bid from Amaya. At a price of 35.8 million USD, Amaya obtained the rights to the Toronto-native company and received valid acceptances which would give the Montreal company control over 11,171,318 shares, representing approximately 80.79 percent of the issued share capital of CryptoLogic.
As of 2012, Cryptologic continued to exist under Amaya’s corporate umbrella, and some of its most iconic games are still available in numerous regulated online casinos.
Downloadable and Instant Play
(Slots - 66,
Tables - 5,
Video Poker - 6,
Arcade - 3)
Products and Services
Online casino, poker room