Crypto Cries Foul In Latest Results

10th May, 2010

It's results season for many of the best uk casinos and software providers, and just days after Playtech announced a great performance to the city, it is rivals Cryptologic who have cried foul in their latest results.

The Dublin-based online casinos software supplier has posted a first quarter loss of 25% compared to the same period last year - stating that the blame lies firmly thanks in no small part to the aforementioned Playtech enjoying their share of revenue from partner William Hill - Crypto's largest online casino licensee.

Revenues fell from just over $10m to $7.6m in the first three months of the year. This meant a net loss of $3.2m - versus another net loss of $1.3m in 2009.

Despite the numbers, an spokesman for Cryptologic commented optimistically on their latest figures...

'With a strong backlog of new business we expect our results to improve gradually as the year unfolds.'

It is thought that Cryptologic has almost one hundred new online slot games waiting to be launched to their suite of online casinos.

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