Gambling-programming giant CrytpoLogic is considering a possible joint venture in online poker with Gibralter-based PartyGaming Plc., owner of PartyPoker.com, the Financial Times reported Monday. Although the news item cited no sources, the rumor has recently gained considerable traction online.

Neither company has officially confirmed the story, but Dublin-based CryptoLogic - which has worked with big-name properties like Playboy - did hint that it was looking to defray costs by teaming up with a poker network that deals in "party gaming."

What's more, one CryptoLogic spokesperson, who declined to be identified, said that the company is "looking to increase liquidity while reducing expenses substantially."

The possibility of a CryptoLogic-PartyGaming team-up should come as no surprise to many in the gambling community, after CryptoLogic's announcement that it had entered into a five-year licensing agreement with PartyGaming. The agreement would give CryptoLogic exclusive rights to license and create several branded properties, including Marvel's Fantastic Four, The Hulk, Spiderman and Street Fighter.

Accordig to CryptoLogic, the games will be ready for play as early as the first quarter of 2009.

-Phill Provance

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