Casino News

Cryptologic revenue up 32%

2006-11-03 14:45:00

Online gaming provider Cryptologic has revealed that its quarterly revenue has increased by 32 per cent year on year, reflecting the company's growing strength in the online market.

The company, which develops new gaming initiatives as well as providing the games themselves, has already taken action to ensure that it will not be overly affected by the newly-passed US gambling legislation.

"Since 2001, CryptoLogic has been preparing for this eventuality by shifting its business to continental Europe and the UK. We have achieved record year-to-date revenue and earnings and we now power the world's largest poker network that excludes US players," said Cryptologic president Lewis Rose.

Revenue for the first nine months of 2006 had also increased, the company said &ndash by 39 per cent, now standing at $85 million.

"CryptoLogic's excellent results for the third quarter and the first nine months of 2006 reflect our strategy of innovation and our strong diversified revenue base," Mr Rose commented.

"We have already recorded higher earnings in the nine months to date in 2006 than we did for all of 2005," he continued.

The company's most recent innovations include a new poker tournament leader board and a new Hold'em Blackjack game.


© Adfero Ltd