CryptoLogic Inc., a software developer from Canada, is relocating its head office to the "friendlier" environment in Ireland. This is following a growing moral divide between North America and Europe over the subject of Internet gambling.
The company, which is currently based in Toronto, develops software that Internet gambling sites run on.
The company plans to move its head office, including top executives, human resources and business development, to Dublin in January 2007.
The company's chief executive, Lewis Rose, is not relocating for personal reasons and will step down from his position once a replacement is found.
The main driver of the move was a desire to be closer to their customers. About two-thirds of CryptoLogic's customers are from outside the U.S, with about 60 percent of those in the United Kingdom and Europe.
But one of the main reasons for the relocation of Canada's 4th largest software firm is obviously the less "gaming-friendly" environment that exists today in the United States and Canada.
Europe, and especially the U.K., is proving to be the answer for the gambling businesses by going in the opposite direction to the United States. Next year, the U.K. will license, regulate and tax online gambling, making it a home base for the online gambling industry.
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