Cryptologic Sees Sharp Fall in Revenues

13th November, 2009

One of the leading online casino software providers, Cryptologic, has this week announced a massive fall in Q3 revenues.

The Dublin based company suffered a 31% year-on-year fall for the period, blaming the usually bad month of August being a factor, as well as the slow launching of new online casino games.

Cryptologic supplies software to some of the best uk casino sites, including InterCasino and 888 Casino.

It wasn't all doom and gloom though, as the company managed to half it's net loss, as well as announce new deals with Virgin Casino, Totesport and Betsafe.

Brian Hadfield, CEO of Cryptologic commented...

'Despite a disappointing third quarter, CryptoLogic's business strategy is delivering tangible progress, albeit at a slower pace than anticipated.'