CryptoLogic Limited (CryptoLogic) is a software developer and supplier in the Internet gaming market. Through its wholly owned subsidiary, WagerLogic Limited (WagerLogic), the Company provides software hosting and licensing, e-cash systems and support, customer support and marketing support services for its Internet gaming software to third-party gaming operators. WagerLogic licenses CryptoLogic’s software products and services to an international client base, while retaining ownership and control of the software. As of December 31, 2008, the Company had 14 licensees located around the world, including certain United Kingdom and global land-based gaming organizations. The Company operates a gaming portal business under two brands: casino.co.uk and WinnerOnLine. These portals earn advertising revenue from gaming operators, and direct traffic to operator sites, as well as those owned by the Company’s licensees.