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Online Casino Provider CryptoLogic Celebrates Good News
9
November 2005
The online casino
industry is extremely competitive, and companies are
always looking for ways to attract a larger customer
base and bring in more revenue. That being the case,
when companies can see an improvement compared to their
last year profit, there is much to celebrate, and this
year it looks like CryptoLogic is pleased to be in such
a position.
CrypotLogic Inc., the poker software provider and
Canadian turnkey online casino, has reported that their
3rd quarter profit leapt 80% to $5.1 million dollars as
their revenue climbed 35% due to the sudden rush of
popularity that occurred in online poker. This excellent
news for CryptoLogic also means great news for the
industry, which has already seen fabulous results
earlier last week in regards to the results generated by
888 Casino.
The 30th of September was when the earnings for the
quarter ended, which amounted to 36 cents for each
share, and was compared to 21 cents for each share that
occurred only a year earlier. Furthermore, revenue
climbed to $21 million US dollars, which was up from the
corresponding period of last year’s $15.6 million US
dollars (All of the above information was released by
CryptoLogic).
CryptoLogic’s CEO, Lewis Rose, recently said in a press
release that publicized the company’s results, that
CryptoLogic maintains its integrity and is a model of
steady, reliable performance. This is something that the
company is extremely proud of, especially since they
have managed to maintain such a profile within an
industry that is ever changing at a rapid pace. Rose
also said that the casino revenue for the last quarterly
was up 12% while the poker costs escalated to 89% over
the past year.
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