Cryptologic Reveals Successful Fourth Quarter
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Thursday, March 20, 2008
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Despite an overall drop in profits of 77% in the
year ending 2007, the online gambling company,
Cryptologic has shown that no UIGEA legislation
will keep it down for long. The Irish-based
company lost 30% of its customer base literally
overnight when it was forced to pull out of the
American market in 2006, but its fourth quarter
results that were revealed this week show a hefty
tripling of its shares compared to last year. Net
income went up to $4.3-million from only
$1.7-million the previous year.
There are a number of reasons for Cryptologic’s
success in the last quarter of 2007. The company has
introduced new superhero slot machines from the
Marvel Entertainment range that has proven to be
particularly good for business. In addition, it has
recently announced an expansion of the lucrative
contract it holds with the top industry brand, World
Poker Tour until 2011 at least. With these kinds of
facts, Cryptologic is showing the world that it is
not going anywhere in the near future!
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