Party Gaming and CryptoLogic to merge?

Any company that has a major shareholder named Dikshit is bound to fall on hard times sooner or later. Since Party Gaming is probably the only company in the universe with a guy named Dikshit holding a shitload of stock and options, guess what? They’re struggling. So is CryptoLogic. So what to do?

Party Gaming has recently just signed a deal with online gaming software giant CryptoLogic to offer their suite of online casino games in Party Gaming’s online casino. The recent deal appears to be just the beginning in what might be a long term relationship between the two companies. Now there are rumors that the two companies are talking about pooling their online poker resources to benefit both parties.

Although CryptoLogic has had an excellent year in terms of new casino deals, they have had a rough few months in terms of their online poker clients. Recently World Poker Tour Enterprises cancelled a three year deal with CryptoLogic while earlier in the year they lost a long time staple in their lineup, William Hill. Rumor has it that CryptoLogic is talking with Party Gaming hoping to soften the blow of their recent troubles with their online poker clients.

Another likely reason for the supposed partnership is that the two companies are looking to save costs and increase revenues in an attempt to save their positions in what has been a rather tough market the past few year. Party Gaming was hit hard by changes in the American legal environment and CryptoLogic’s poker network has been suffering since then as well. Both companies are looking to ultimately cut costs and bolster their once mighty and powerful poker networks.

CryptoLogic will be refocusing their efforts in the coming months and years to their online casino businesses, which are their most profitable. They are looking to Party Gaming to help them keep the poker business afloat and hopefully venture into a new era of profitability. CryptoLogic currently has many new projects in Asian and Pacific Rim nations that are helping to increase their casino business in what is seen to be an expanding market.

The folks here at Twisted Gambler wish Dikshit and all of his new buddies at CryptoLogic the very best. After all, without fine companies like these we wouldn’t be in business. And without Dikshit, we couldn’t poke fun at perhaps the worst name in the history of mankind.