Popular software gaming giants CryptoLogic and PartyGaming show dipping revenues.
The once Teflon coated online gaming industry has now revealed some chinks in its armor as the recession's bite has firmly taken hold.
Q3 results are down
Popular online gaming giant PartyGaming is
expected to show a decline in revenues following the calamitous global
recession of late 2008.
A second major software gaming giant - CryptoLogic is expected to post declining quarterly results by November 5 release.
Brands still resilient
CryptoLogic
provides the hugely popular Marvel Comics collection of exciting video slots. While the results posted for the
third quarter of 2009 are down by approximately 1/3 from the same period a year
ago, all hope is not lost.
The good news is that the online casino industry has been rather resilient against the global crisis. The industry has remained afloat by being dynamic, offering incentives to players and always being perceived as a way to strike it lucky.
CryptoLogic have announced that their licensed games have reflected growth this year, so the lag effect works in both directions. For now it's a strategic approach that is required to weather the storm, but weather it they certainly will.
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