Cryptologic announces losses
26th September, 2008
Online Software provider, Cryptologic have announced a loss in profits however this figure has been reduced since the last quarter. The companies results were expected and were apparently in line with the market expectations.
'While it is disappointing that financial market volatility will affect our third-quarter results, CryptoLogic has made good progress operationally with the launch of new products, improvements to our technology platform and seven new customer wins so far this year,' said Brian Hadfield, President and Chief Executive Officer for CryptoLogic.
'With three new customer sites up and running in the third quarter and two more slated to go live in the fourth, CryptoLogic continues to see a brighter outlook for 2009.'
The company has been affected by the outlawing of internet gambling in the USA and were forced to move offices to Ireland. This has brought the company into the European market resulting in three new client deals being made in recent months.
The company provide high quality gaming software for some of the industries biggest operators. The growth of online gaming has created several new niche business organisations. Crypotologic can provide online casino, bingo, betting or poker software for customers.
