No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
IMPROVED SECOND QUARTER FOR CRYPTOLOGIC
Veteran online gambling software developer and provider Cryptologic has produced improved second quarterly results that include casino revenue up 21 percent, and branded game revenue up 70 percent over Q1 2009.
Releasing its financial results for the second quarter ending June 30, 2009, the company said its new business strategy delivered reduced operating costs, a solid quarter-on-quarter improvement in its Internet casino hosting business, and growing revenue from branded games launched by major Internet gaming operators.
Financial highlights included:
* Revenue of $10.1 million, unchanged from Q1 2009 but down on the same period last year (Q2 2008: $16.8 million) as higher casino and branded games sales offset the previously reported loss of William Hill poker
* Profitable in June
* Casino revenue up 21 percent sequentially to $7.7 million (Q1 2009: $6.4 million)
* Branded games revenue increased sequentially by 70 percent to $500 000 (Q1 2009: $300 000)
* Operating expenses fell to $9.9 million, down 25 percent year-on-year (Q2 2008: $13.2 million)
* The company recorded an operating loss of $2.2 million for the quarter.
* Net loss of $6.2 million, reflecting a non-cash impairment provision of $4 million, booked against long-term Asian investments (Q2 2008 net loss: $1.5 million) The company has also reviewed the carrying value of its long-term Asian investments, and determined that a provision of $4 million is required for certain of these investments. As a result, the company recorded a net loss of $6.2 million for the quarter.
* Net cash at June 30, 2009: $33.8 million (March 31, 2009: $38.7 million). The company continues to be debt-free.
* Dividend of $0.03 per share for the quarter, unchanged from Q1 2009
Operating and governance highlights:
* Operating expenses were up $1.7 million from Q1, of which $625 000 can be attributed to adverse currency movements. Other factors included higher development costs, increased marketing costs and new resources for portals, player acquisition and search engine optimisation.
* 13 branded games on the market in Q2, up from three in Q1
* Signed multi-year agreements to provide top-performing branded slot games to some of the world's top gaming sites, including SportingBet.com, Betfair, PaddyPower and Victor Chandler Group and, in July, Totesport, Britain's state-owned and fourth-largest bookmaker
* Launched Internet casino for The Gaming Network
* Extended relationship with Marvel Entertainment to develop superhero-themed games until 2013
* Expanded relationship with 888.com to include five more games for launch in 2009
* New game releases included a video slot version of Jenga, one of the world's most popular board games, developed in record time at the new CryptoLogic Centre for Innovation
* Appointed David Gavagan as Chairman and James Wallace as Senior Independent Director
CryptoLogic expects to be both profitable and cash generative in Q3, as it gains traction from the rollout of branded games by new customers, with more than 40 scheduled by the end of the quarter and more than 110 in total by the end of the year
"The second quarter of 2009 marked a turning point for CryptoLogic, with significant growth in our two core businesses," said Brian Hadfield, Cryptologic's President and CEO. "With a larger customer base and an aggressive rollout schedule for our new games, CryptoLogic now has the people, the products and the partners to deliver improved performance for our shareholders -- in 2009 and beyond."
The company now has 24 licensees - the largest number in its history - including the "big four" international gaming operators: PartyGaming, SportingBet.com, 888.com and Betfair.
While the rollout of CryptoLogic games by licensees has been slower than anticipated at the beginning of the year, the company exited the quarter with 13 new branded games on the market, up from three in the first quarter. 40 games are scheduled to be live by the end of the third quarter, and over 110 in total by the end of the year.
CryptoLogic saw a significant rise in revenue from its core businesses in the second quarter. The company increased revenue from its hosted casino business by 21 percent, and there was a 70 percent increase in revenue from branded games compared with the first quarter of 2009. These gains helped to offset the loss of more than $1 million in revenue from William Hill Poker, which has taken its business elsewhere.
While the company has reduced its employee complement substantially since 2008, strategic moves were made in the quarter to add talent to manage portals, player acquisitions and search engine optimisation.
The company has completed the strategic integration of its Internet poker network with that of GTech Corporation's International Poker Network, eliminating the cost of operating a standalone poker platform, whilst significantly improving poker room liquidity for players, and paving the way for a profitable poker business.
Despite challenging market conditions, management remains confident that Cryptologic's new business strategy and restructuring program will deliver strong financial performance for shareholders over the long term, and it continues to target a return to profitability and cash generation in the third quarter.
The company continues to expect a net profit for the full year, and to return to positive cash flow for the second half of 2009.
Limited time offer for all our Readers. All Countries. A brand new No Deposit Bonus. No Max Cashout. Claim It Here.
Gambling News :
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.