The three companies will jointly establish a new company in China to adapt CryptoLogic’s online casino and poker games to the Chinese market and develop new poker and casual, skill-based games that are more familiar to players in those areas. Brilliance will establish a division to deliver the games in two modes: "play-for-fun" subscriptions for users in internet cafes and on mobile devices, and "play-for-money" through sites licensed by China Welfare Lottery, the nation’s gaming licensing authority.
Cryptologic’s investment will initially be a minority interest in the new company, with an option to increase its investment to a controlling position. Cryptologic will have the right to appoint all members of the board of the new company. No financial terms were disclosed. [January 22, 2007]
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