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CryptoLogic Limited a global developer of branded online betting games and Internet casino software has launched more than 17 slot games featuring classic Marvel superheroes including Spider-Man, the Hulk, the Fantastic Four, Daredevil, Blade and the Sub-Mariner since signing its original licensing deal.
Although last June, Cryptologic was able to secure an extension through 2013, a competing agreement through Marvel Characters B.V, a subsidiary of Marvel Entertainment and rival game developer Playtech has caused the company to bring arbitration proceedings against Marvel Enterprises Inc.
CryptoLogic claims that Marvel has committed material breaches of certain provisions of its agreement with subsidiary WagerLogic Ltd. relating to its licensing of Marvel comic book characters.
The rival licensing agreement allows Playtech to utilise Marvel motion picture brands across all of its gaming products including casino, poker, and bingo, and across all of its platforms including online, mobile and TV platforms, as well as on server-based gaming terminals via Videobet.
While CryptoLogic says they have sought to resolve the issue without resorting to arbitration, the company has been left with no alternative but to protect its licensing rights and commercial interests.
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