CryptoLogic Leads Gambling GrowthPublished March 19, 2008 by OCR Editor
Internet gambling software provider CryptoLogic shows the industry how it's done, with yet another growth in income in the fourth quarter.
CryptoLogic Ltd., one of the industry's leading companies, reported its fourth quarter numbers today. The growth in income, a year since the ban on gambling in the United States came into force, was surprisingly high.
The Internet gambling software provider, based in Ireland, where it moved to from Canada, reported its net income for the final quarter of 2007 reached $4.3 million, seven percent higher than a year earlier. The numbers are calculated after a $1.75 million write-off, no less.
The numbers are even a surprise for CryptoLogic, which expected them slightly lower than they turned out.
The company's recently appointed CEO Brian Hadfield stated that the numbers "demonstrated the resilience of its business."
Europe and Asia are thus established as an even greater and more reliable (i.e. profitable) bases for the industry. European and Asian players, new casino games, and some special themed games are regarded as major boosts for the impressive financial report.