Cryptologic, the top software developer, has announced that at the moment they are discussing an agreement with ‘another big poker network’, PartyGaming. The two companies are going to pool their online poker businesses together in order to save costs during the current economic crisis. CryptoLogic and PartyGaming are trying to keep their high positions in the online casino gambling industry.

After the news about that this November WPT Enterprises were closing their real money poker site WorldPokerTour.com. Some time ago CryptoLogic also lost the Will Hill license to Playtech. So, it is clear if they want to keep being financially strong any further they should make a new partnership. The deal with PartyGaming must mitigate the blow of WPT shutting and losing the Will Hill.

Online market share of PartyGaming has decreased to 8.5% from 40% over the last two years. The main reason of this abrupt loss is the UIGEA passed in October 2006. The company lost one of its most profitable markets in the USA after they had to close their doors to all American residents.

CryptoLogic is trying to decrease their annual operating expenses by $12 - $15 million. The agreement with PartyGaming is a five-year licensing deal on online casino games.

CryptoLogic is also going to continue their business and management of their investments in Asia, namely in China, Singapore and Korea. They are also providing India-based Khel Galli with online casino games, one of South Asia’s fastest growing gambling companies.

Jim Ryan, CEO at PartyGaming, considers that the agreement with CryptoLogic and the new suite of games they will be able to provide will help improve their own market leading position.