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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.
