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Cryptologic Bad 3rd Quarter Earnings

10/16/09 - The veteran online gambling software developer Cryptologic has issued a trading update ahead of the release of its third quarter results on November 5th, indicating that the traditionally slow nusiness period has not been kind to the company.

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Uncertain macroeconomic conditions and sluggish wagering activity across the industry continued in the third quarter, contributing to a significant decline in wagering volumes at Cryptologic in both casino and poker compared with Q3/2008. A company spokesman said that while the third quarter is traditionally the slowest season for Internet gaming, the seasonal uptick in demand normally seen in September was well below historic trends.
 
There was a strong take-up of branded Cryptologic games by new licensees during the Q3/2009. The company expanded its total number of branded games on the market to 33, up from 13 in the second quarter and three in Q1 2009. As most of the new games scheduled for the quarter were not launched by customers until late in the period, revenue from these will only start to come through from Q4 2009.
 
As a result, the company expects to report Q3 2009 revenue of approximately $9.6 million and a trading loss of approximately $3.4 million.
 
However, the pipeline of new business continues to be strong and with a substantially expanded base of 28 new licensees, management remains confident of its strategy to return the business to profitability and long term growth, albeit at a slower rate than anticipated by management and the market.
 
The fourth quarter has started well and an up-to-date outlook for the period will be provided with the Q3 2009 results announcement, the spokesman added.



Gambling News :

Keimo Suominen Wins MPNPT Tallinn 2017 Main Event - Finnish online qualifier Keimo Suominen has taken the mantle of MPNPT Tallinn Champion from last year’s winner Ranno Sootla, winning €45,200 after a heads up deal with Davis Modans. They’d outlasted a field of 534; the total prize pool reached €258,990 – well over its €150,000 guarantee.

Foxium chooses Microgaming’s Quickfire platform - Game developer Foxium is integrating with the Quickfire platform via an exclusive deal.

14 Left in MPNPT Tallinn Main Event - All 14 players who have made it to the end of Day 2 in the MPN Poker Tour Tallinn Main Event can now consider themselves to have officially run deep.

Day 2 of the MPNPT Tallinn Main Event - Day 1b of the MPN Poker Tour 2017 Tallinn Main Event easily surpassed the tournament’s €150,000 guarantee on its own. Yesterday’s 416 entries brought the total number so far up to 522

Michael Myers is back in Halloween Slot Machine - Get ready for a blood-curdling adventure with Microgaming’s latest offering – Halloween Follow Annie, Lynda, Doctor Loomis, and our heroine Laurie as they try to survive the ultimate horror movie villain, Michael Myers.

Joe Fortune new Rewards Program - Once you sign up, you’re automatically enrolled in the rewards program – and that’s when the epic journey begins. You’ll start earning Adventure Miles immediately, and can embark on the quest of a lifetime: To get paid to play, which stays true to the rewards program’s slogan, ‘Play More Get More’.

Day 1a MPN Poker Tour Tallinn Main Event - Day 1a brought 106 entries into the €550 Main Event, with nearly as many players turning out for the last €35 super satellite into tomorrow’s Day 1b

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

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