CryptoLogic Reaches Settlement With Marvel
Further to the announcement of April 19, 2010, CryptoLogic Limited
(TSX: CRY)(TSX: CXY)(NASDAQ: CRYP)(LSE: CRP), a global developer
of branded online betting games, announces that its wholly owned
subsidiary, WagerLogic Ltd., ("WagerLogic") has reached
a settlement of its arbitration with Marvel relating to the licensing
of Marvel comic book characters.
WagerLogic and Marvel have agreed to modify certain business terms
of their license agreement.
Marvel and WagerLogic:
-- Expanded the platforms to include mobile, and government licensed
in-
hotel room systems;
-- Allowed for the creation by WagerLogic of wagering games based
on
Marvel's top team of Super Heroes, The Avengers, in addition to
Spider-
Man, Fantastic Four and the other characters already included in
the
license;
-- Extended the relationship by 12 months through January 2014;
and
-- Agreed to make the agreement non-exclusive at a reduced cost
to
WagerLogic.
Marvel and CryptoLogic are pleased to have reached an amicable
settlement.
