CryptoLogic Seeing Success in Asia
August 27, 2008 (Dublin, Singapore) — CryptoLogic Limited's investment in Mahjong Time, a provider of online mahjong software and an official partner of the World Series of Mahjong, has helped the Internet gaming software company take major strides in Asia. Mahjong Time has recently signed a licensing agreement under which the company gains access to 50 per cent of the Internet cafés in China.
"All of CryptoLogic's Asian investments are meeting or exceeding their targets — and ours. We knew the global mahjong market had huge potential, and that potential is quickly turning into reality," said Brian Hadfield, CryptoLogic's President and CEO. "As CryptoLogic's Asian business continues to grow, our investments in different partners and platforms enable us to penetrate each market more effectively — for the benefit of our customers, our players and our shareholders."
Under the agreement, Mahjong Time will be able to take advantage of a comprehensive marketing presence in more than 30 provinces and 251 cities through some 1,200 wholesale distributors.
"Thanks to CryptoLogic's investment, we've been able to grow even more quickly, capitalizing on the enduring popularity of a game enjoyed by more than 600 million people worldwide," said William Sutjiadi, CEO of Mahjong Time. "Our partnership with various Asian licensees demonstrates Mahjong Time's commitment to work with companies who offer value and vision — and to deliver the best software solutions to our customers."
Asia is quickly becoming the next major geographic area for online gaming. In fact, industry experts expect Asia to be the fastest-growing and ultimately the largest online gaming market in the world. China is now the largest Internet market with 253 million users, surpassing the United States for the world's number one spot.
"CryptoLogic chooses its partners with great care, and it's exciting to see our faith in Mahjong Time rewarded," said Shailesh Naik, Managing Director of CryptoLogic Asia Pacific. "With these sorts of results, CryptoLogic is on track to be a leader in Asia tomorrow, just as we are in Europe today."