The World Poker Tour and the online poker network known as CryptoLogic Inc. have decided to end their agreement after being together for over a year and a half.
The agreement began on April 26th, 2007 as a three year deal; CryptoLogic was brought in to develop the software for the World Poker Tour after the WPT failed in its efforts to launch a proprietary software system.
It was initially a three-year agreement, but was stretched to a seven-year deal after the WPT was pleased with the work that CryptoLogic’s subsidiary company – WagerLogic – had done on their poker room. However, it appears to be a certainty that this agreement won’t last that long even though both sides will honor the deal until its termination on November 14th of this year. There is no word on how much the World Poker Tour will pay CryptoLogic to end the deal prematurely.
When the deal ends on November 14th, there is plenty of speculation that the WPT’s online poker room will shut down in the wake of the broken agreement; this is due to the fact that the World Poker Tour room will have no software provider after the split with the Dublin-based CryptoLogic.
Even if the online poker sector of the WPT is terminated, the organization will still remain a large force in the world of land-based poker tournaments. World Poker Tour tourneys consistently draw major professional players to their events and the overall crowds are typically quite big too. The WPT has also had its events broadcasted on the Travel Channel and Game Show Network; the organization’s tournaments were consistently among the highest rated shows featured on both channels during its six seasons. World Poker Tour Entertainment – the parent company of the organization – has announced that its seventh season will be shown on Fox Sports Net.
With the split, CryptoLogic Inc. and its subsidiary WaterLogic are expected to take a big hit; CryptoLogic is currently the four largest software service provider in the world along with Playtech, Mircrogaming, and Real Time Gaming. Today they provide software servicing for such casino and poker room giants as William Hill plc, PartyGaming, and 888.com. The company was founded in 1995 by Mark and Andrew Ravkin in their parents’ basement; CryptoLogic began growing quickly after achieving its first major casino agreement with InterCasino in 1996.