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CRYPTOLOGIC Q1 2008 REPORT RELEASED

 

The Dublin-based online gambling software developer and turnkey provider Cryptologic released its first quarter 2008 numbers this week, showing a 21 percent rise in customer revenues, overall income slightly down and impressive amounts of cash on hand at the end of the reporting period.

The rise in customer revenues was attributed to strong casino growth from new game offerings featuring Marvel Super Heroes Spider-Man and the Fantastic Four, and an increased number of licensees.

Customer revenues reached $18.3 million (Q1 2007: $15 million) whilst overall group income faded a little at pacific Poker$19.3 million (2007: 19.6 million) with operating expenses declining by an encouraging 8 percent. CEO Brian Hadfield reported an impressive cash balance (up $3.5 million on Q1 2007) of $81 million as at 31 March.

Hadfield reported highlights that included new games releases, new language versions for the World Poker Tour licensee and the the acquisition of the successful gambling information portal Casino.co.uk (see previous InfoPowa reports). Expansion into Asia continued through partnerships and buy-ins to companies in the region and recent new licensee agreements featuring 888.com, OPoker and Maharajah Club.

Cryptologic is benefiting from a focused strategy of innovation, expansion, diversification and execution," said Hadfield. "In the first quarter, Cryptologic laid the foundations for future growth with investments in new games, new leadership and new partnerships with leading gaming and entertainment brands. That's why we are confident that CryptoLogic is on track for significant growth in 2008 and 2009."

During the quarter the company completed development of seven exclusive new casino games, highlighted by the Internet's first slot version of the world-famous Street Fighter II arcade game, and continued to generate revenue growth from core customers due in part to the popularity of its new slot games featuring Marvel Super Heroes Spider-Man and the Fantastic Four.

After reorganising its business and returning to profitability in 2007 following the U.S. prohibition on financial transactions with online gambling companies, Hadfield believes the company is on track for significant expansion in 2008 and 2009. The company's strength in software development and its stable and growing customer base position it for continued growth in Europe, the report asserts.

In Asia, Crypto expects to earn new revenue from its strategic moves into mobile gaming, subscription-based games and other rapidly growing segments in large markets such as China, Singapore, India and Korea. CryptoLogic's investments in Asia are performing well and are meeting or exceeding the performance measures agreed at the time of the initial investment, Hadfield revealed.

CryptoLogic management is targeting a return to its 2006 revenue and earnings levels by the end of 2009.

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Gambling News :

Local Florida Poker Pros Scam Marc Klang For $500k - Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

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