CrytoLogic, the software developer is on the verge of revamping its business methods so that it can place more emphasis on the European market. With this move, CryptoLogic gets to stay away from legal issues that are presently haunting the US market. This piece of news proves to be interesting and beneficial to the online bingo games operators and all the UK online bingo halls that have used its software.

It is mainly because of the continuous fallout from the Unlawful Internet Gambling Enforcement Act (UIGEA) that Cryptologic is induced into concentrating more on getting as many new licensees in Europe as possible. And in a bid to get closer to the European market, Cryptologic has shifted its headquarters from Canada to Dublin, Ireland.

The Vice President of Product Management and Business Development of Cryptologic, Justin Thouin has stated that this move was made mainly with an intention of increasing share values.

With Cryptologic finding out that its share price was undervalued; it considered an expansion strategy that proves to be important for the company to go forward. In other words, with all these actions, Cryptologic is undergoing a major change in the working of the company.

In fact, because of the UIGEA, many software providers and operators have withdrawn from the US market. This is because the US law prevents US bingo online players from actually getting involved in any financial transactions conducted with non-US gaming operators.

Thouin added that in a bid to grow, Cryptologic has to also change its business model. They are now planning on going after new licensees like they have never done before. In fact, they aim at concentrating on acquisitions like the acquisition they had done last year with Parbet.

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