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.