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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 :

3 Top Bitcoin Poker Sites - Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.

Kentucky Derby Odds: Justify still Favorite - With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.

$40,000,000 guaranteed Partypoker Powerfest - $40,000,000 guaranteed POWERFEST schedule released. 6th-20th May, 366 events, 13 events with $1,000,000+ guaranteed

888Poker Takes Over the States - With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?

Top gambling ICOs to watch this year - The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.

MPN Poker Tour Bratislava Results - Alex Hendriks Wins Inaugural MPN Poker Tour Bratislava Main Event and €27,000

MPN Poker Tour Bratislava | Day 2 - It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.

MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

Famous professional eSports player that turned into poker - It goes without saying that nowadays eSports is one of the fastest growing industries. However, similar to regular sports, the professional gamers are struggling to find themselves after their career is over.

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