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Anne Lindner

Q & A: Lewis Rose, CryptoLogic

22 August 2002

Lewis Rose joined CryptoLogic as its interim president and CEO on July 15. He most recently was the CEO of E-tv Interactive Technologies Inc., which provides interactive television and Internet services. He has also been president of Alliance Atlantis Communications and the Maple Leaf Foods' Grocery Products Division.

Rose, a chartered accountant, recently spoke with IGN about his plan to make the Toronto-based software supplier a profitable company, whether Crypto plans to enter the operations side of I-gaming and more.

IGN: Regarding the "back to basics" business approach that you spoke about in the investor conference call a few days ago, what is your strategy and why are you calling it back to basics?

Lewis Rose: CryptoLogic is operating in a young industry facing a challenging phase. As a result, we have to ensure that the earnings and cash flow that we will generate can be viewed as a very solid base from which to grow. Therefore in light of the credit card situation, as an example, we need to ensure that we can develop a basis for growth that's based on sustainable cash flow and earnings. We're reviewing all our costs for example and ensuring that customer deliverables are at the top of our agenda. We want to be responsive to our customers' needs and the entertainment experience that they offer their players.

IGN: How long do you think it will take to get that in place?

LR: Months. In the meantime, while we focus on the core, old-fashioned fundamentals of cash flow and earnings, we intend to grow the business by seeking strong tier-one European licensees, and you may be well aware that very recently we announced one such licensee in the U.K. is Littlewoods Leisure, which received regulatory approval for compliance with the very strict Isle of Man regulations for approval to operate an online gaming casino licenses in the Isle of Man.

IGN: You mentioned in the conference call that there is not a search going on for a new CEO. Do you plan on being the permanent CEO?

LR: Well, we have every expectation that I will be appointed the permanent CEO, and you are correct, there is no search ongoing. The board of directors has every expectation that that permanent appointment will take place and be announced.

IGN: What about personal goals? Where would you like to see the company with you at the head of it?

LR: Once we reestablish ourselves as a profitable, growth company, then the objective is to establish CryptoLogic as the leading software entertainment provider in the industry and to reestablish the profitable growth potential that the company has exhibited in the past. One of the reasons I say that is that CryptoLogic has exceptional talent. Unbelievable brainpower, knowledge and experience. As you know, CryptoLogic effectively founded the industry. CryptoLogic was the leader in developing and creating this industry, and my goal and objective is to ensure that we continue to be out in front leading the industry in its move towards regulation and compliance around the world.

IGN: Do you think the company will at any point operate its own casino?

LR: There are a number of opportunities and alternatives that a new CEO would consider. It's not our intention at this point to do so. There's sufficient growth and opportunity in providing software to our customers, and that's where we see the growth--from adding new licensees, particularly in Europe, from introducing new products and from entering new markets and including new languages.

Q & A: Lewis Rose, CryptoLogic is republished from
Anne Lindner
Anne Lindner