Online gaming software developer CryptoLogic said it was "on track" to make up and exceed the revenue shortfall that will result from the company's agreement with Sportech coming to an end.
Sportech, which previously licensed CryptoLogic software for its Littlewoods-branded gaming sites, yesterday announced that it had awarded the contract to Gibraltar-based gaming giant 888 Holdings.
Following the announcement, CryptoLogic noted that the Sportech deal represented just four per cent of the software provider’s top line.
The company also drew attention to "significant" revenue growth prospects in 2008, and said the signing of five new customer deals will open up fresh revenue streams in the coming months.
"Sportech’s move to a new provider will have no material impact on liquidity in the poker room shared by CryptoLogic licensees, as the vast majority of Littlewoods business comes from its casino site," the company stated.
CryptoLogic also said it expects to continue earning some revenue from Littlewoods players, as 888 has signed an agreement to offer more than 10 of the company’s top games to its players and partners.
