CryptoLogic Inc., a technology company that makes Internet gambling software, announced the appointment Tuesday of a new chief executive who will take control from the company’s co-founders early in the new year.
Jean Noelting will become president and chief executive Jan. 8, replacing Andrew and Mark Rivkin, who founded the Toronto company and had been its chief executive and chief operating officers, respectively.
“We have now reached a pivotal point in our growth and it is important that we look ahead to ensure the company’s long term success,” Andrew Rivkin told an analyst conference call Tuesday.
“New leadership to take the company to the next stage is a natural progression for CryptoLogic,” he said.
Rivkin and his brother will continue to be involved in the company as shareholders and directors.
Noelting will leave his current position as president and chief operating officer of Canadian distributor Westburne Inc., a Montreal-based company that made electric, plumbing and heating materials and was taken over earlier this year by French distributor Rexel and renamed Rexel Canada.
During his 19-year career, Noelting has also sat on the board of directors at Videotron Group Inc., Videotron Communications, and Look Communications.
Rivkin said that CryptoLogic’s next steps could involve the purchase of another Internet gaming company.
CryptoLogic’s move Tuesday is part of the company’s plan to grab a bigger chunk of the world’s Internet gaming business, which is expected to grow to about $9 billion by 2003.
Bill Faces Setback on casino en ligne
A bill that could ban college betting on sports has hit another setback.
At a meeting of Republican Senators, many agreed that by attaching the bill to a broader-themed education bill currently pending, was not a good idea.
It would seem that bills like this would face more chance of passing rather than a stand-alone bill, but the support is split to the extent that Senator. John Ensign R-Nev has stated that if the betting bill is attached to the education bill, then he would vote against the education bill.
What to do now will need to be discussed before either of the bills make it or fail as legilation.