The influential internet software developer, CryptoLogic Inc., has decided to move their main office to Ireland due to the resistant attitude that North America harbours toward online casino gambling. The company would prefer to do business in the gambling friendly region in Europe and avoid negative litigation from their current neighbour, the United States.
Lewis Rose, the chief executive officer at CryptoLogic, will be one of the few members of the executive branch who will not move away from Canada due to the change. The move would be fantastic for the company who specializes in software compatible for casino Canada online, but Rose has familial obligations that will keep him on this side of the Atlantic.
The staff in the Dublin office will be very small to start with in order to create a strong foothold in the country and set up the amount of infrastructure necessary to run an online casino software company of such a large size. The company estimates the initial staff will hover somewhere around ten people.
This move will also affect the London Stock Market as the company will be listed on the Alternative Investment Market there. This is in addition to the online casino companies listing on the Toronto and NASDAQ stock exchange.
Crypto does not plan to close down the office in Toronto when making the change to the Dublin main office. The move will be primarily be precautionary, giving the company an opportunity to find refuge in case laws are passed in order to restrict online casinos in Canada – although there is no indication yet that this will be the case.
Also, the change will result in the company being closer to their consumer base. European citizens account for two thirds of the revenue received each fiscal year by the online casino company. Customer service will no doubt be improved as a result of the proposed move.
CryptoLogic hopes that the casino friendly attitudes in Europe will allow the company to feel secure in their endeavours to improve the quality of business. With recent unrest surrounding the online casino industry in North America, CryptoLogic hopes to build a new home overseas that will be more conducive to the ever evolving working strategy of the company.