Casino News

Cryptologic praised by leading investment site

2006-11-27 15:03:50

A leading website which provides tips for investors the world over has chosen online casino provider Cryptologic as its 'Best International Stock for 2007' pick.

The Motley Fool, an investment and financial advice service, predicts that Cryptologic will prove to be a hit with investors because its "solid reputation" makes "attracting and retaining blue-chip licensees" much easier.

Praising the industry as a whole, article author Brian Pacampara cites worldwide markets as being key to future growth, with industry revenues expected to grow by almost $20 billion by 2010.

"The data clearly shows that a worldwide demand to gamble online exists and that Cryptologic will play a major role in meeting it - with or without the United States," Mr Pacampara commented.

"With Europe and Asia alone having considerably more than ten times the population of the US, there should be more than enough growth in demand to make up for the shortfall of US business," he surmised.

Earlier this month Cryptologic announced that its third quarter earnings had risen by 41 per cent to $7.2 million.


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