InterPoker Moving to Boss Network

In September of 2008, online poker network Cryptologic announced that they will be merging the rooms on their clients with the Boss Network. In this announcement they said the move would be made in the first quarter of 2009. We can now confirm that this is the case and they will be merging on the 17th March.

It is understood that once InterPoker and other Cryptologic partners move to the Boss Network that Cryptologic will concentrate their efforts on developing online casino software. According to a press release that was made on February 9, this restructuring will allow them to slash their expenses by a whopping $13 million each year. This restructuring will also mean that they will no longer have a Chief Technical Officer (CTO). The duties of that position will now be handled by other employees within the company.

Cryptologic, which is currently traded on the NASDAQ, has come under intense public scrutiny in recent times. Former CEO Javaid Aziz is looking to claim €1.5 million back from Cryptologic. This is not the publicity the company is looking for and current CEO Brian Hadfield said this “is not in the best interests of shareholders at a time when the board and management are focusing on returning the company to profitability.”

There have been other movements away from the Cryptologic software by online poker rooms as well. Betsafe moved to the Ongame network while SunPoker and PokerPlex moved to the iPoker Network. Things have been looking bleak for Cryptologic on the poker side of things for quite a while. It remains to be seen if this restructuring will provide the impetus it needs to turn their fortunes around.