CryptoLogic Looks to the Future

March 10, 2010 | News Category: Casino Software

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Although CryptoLogic has announced a loss for their 2009 figures, the company is optimistic for 2010, and is looking forward to a good year.

CryptoLogic did not simply sustain a small drop in revenue last year, in 2009, but saw their revenue drop by more than 35 percent over the time period. Losses reached the sum of $35.5 million for last year, which was greater than losses that were sustained by the company in 2008, which had amounted to $32.7 million. However, the loss included a sum of $25 million that made up one off charges and was used for impairments and restructuring.

Some of the reasons given by CryptoLogic as to how they feel they will become profitable once again include increasing their number of gambling operators by licensing an additional 20 operators. This has nearly tripled the number of operators using their services. Some of the larger gambling operations have now chosen to use CryptoLogic to power their online gambling sites, such as Sportingbet and Betfair.

Not only has the company grown by adding these new and big names in the online gambling world to their repertoire, but they have also entered other deals that are sure to keep their popularity up.

CryptoLogic has now got deals with both DC Comics, for use of their superheroes, and with Paramount Entertainment, for use of exceptionally well-known movies, such as Forrest Gump and Braveheart. Players who choose CryptoLogic online casinos may well make that choice simply to play incredible video slots with great themes, such as Superman, Batman, Forrest Gump and Braveheart. It is likely that these branded games will help to increase the company’s revenue.

CryptoLogic has also recently signed a three-year deal with Betsson. This deal is an example of the many deals that CryptoLogic has recently brokered.

The leading European gaming operator will now be using at least nine of the online gambling software company’s popular games on their site.

Betsson plans to launch these games on their sites Cherry Casino, Betsson, and Casino Euro. Casino Euro already has already launched one of the games, and more will follow over the course of this year.

Deals such as these give CryptoLogic a recurring income based on the bets that are placed on their games at the online casinos included in the agreement.

CryptoLogic’s Vice President, Justin Thouin, said: "Betsson is the latest customer to sign up to CryptoLogic’s games, underscoring the value our innovative and rich content brings to operators worldwide. With every new licensee CryptoLogic not only expands its global reach but also strengthens its base for generating long term revenues."

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