ONLINE GAMBLING PIONEER NOW CURES ADDICTS
21st February, 2015 at 07:30:21
A famous industry name from the past resurfaces.
The name Mark Rivkin will be familiar only to industry veterans aware of the industry's short history, but he and his brother Andrew can claim to have had a major impact in the pioneering days of online gambling, founding the Cryptologic software brand twenty years ago.
The Canadian duo, barely out of university and working from the basement of their parent's home, were among the very first young entrepreneurs to develop software that laid the foundations for today's multi-billion dollar online gambling business.
They leveraged their ground-breaking technology into an online gambling software and operational group that became one of the leaders in the burgeoning global industry with brands like Intercasino
, and still exists today, albeit in a more muted form and under new owners.
And Cryptologic proved to be a fertile venue for the development of several of today's high profile executives, among them John Fitzgerald (Intertain), Andre Edelbrock (Ethoca), Jon Moss (bet365
), and Jim Ryan (Pala Interactive and former CEO at Party Gaming).
The Rivkin's achievements were acknowledged in an interesting article published this week by the Canadian publication Financial Post.
The article concentrates on Mark Rivkin (still only 43 years old), who exited the industry 11 years ago and currently runs the Helix Healthcare holistic mind-body addiction clinic in Toronto.
It also covers the subsequent careers of some of the top men who made Cryptologic a force to be reckoned with before it went into decline, and traces recent developments through Amaya and Intertain that could see a resurgence in its operational activity.
In one Rivkin anecdote, he reveals that in order to demonstrate this revolutionary technology to investors in trying to raise their first $1.5 million in capital, the brothers would pack their full-scale desktop Intel Pentium 90 into the family car and lug it to meetings, hooking and unhooking its cables everywhere they took it.
Investors took a lot of convincing; in those early pioneering days they would make comments like: "It's interesting what you guys are doing, but nobody is going to trust putting their credit card in over the Internet to spend money, and they're not going to trust that the software you guys have developed is fair."
Related News Tags: Canada, Party Gaming, Intercasino