Rosie Lombardi

Going concern: Lewis Rose

By Rosie Lombardi

CA Magazine

June-July 2004

Lewis Rose, CA

CEO, CryptoLogic

Company profile: Founded in 1995, CryptoLogic is one of the largest providers of Internet gaming tech-nology and services. Based in Toronto, it has more than 140 staff worldwide and US$13.5 million in revenue in 2003. CryptoLogic provides all the components its licensees need to operate an online gaming site: web- site design, software that generates numbers, 24/7 multi-language call support and secure e-cash payment. Dedicated to integrity in online gaming, its licensees are subjected to probity checks by KPMG's intelligence unit and its gaming software is cer-tified by accredited testing facilities.

Hot factor: Ranked Canada's No. 1 fastest-growing company by Profit magazine in 2002, CryptoLogic has processed more than US$16 billion in online transactions for 1.7 million players since its inception. It was the first software vendor to partner with an established bricks-and-mortar operation, William Hill of London. According to gaming industry consultants Christiansen Capital Advisors, interactive gaming revenue will exceed US$100 billion by 2015.

Cool projects: CryptoLogic recently launched an upgraded version of online poker, enabling operators to arrange multi-player games and tournaments. The market for online poker has exploded recently — new poker and bingo products contributed more than 10% to the company's 2003 revenue, up from less than 1% in 2002.

In his own words: “We believe that strictly regulated Internet gaming is the best option for everyone. Our major customers depend on us for software the players can trust. By working with regulators, CryptoLogic is sending a message that our business is first and foremost one of trust and verification.”

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