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Casino News: InterCasino, Cryptologic, Software Provider, Profits |
August 21, 2006.
InterCasino Software Provider Cryptologic Reports Record Profits In 2006.
CryptoLogic, the award-winning software provider used by InterCasino, Omni Casino and The Sands of the Caribbean, has posted record profits for the second quarter of 2006.
The company's "better-than-expected" performance saw revenue increases of 52 per cent for the industry leading software developer for the global internet casino market.
Second quarter results for the company showed that revenue increased to $30.4 million, which is 12 per cent higher than the first quarter of the year and well above CryptoLogic's predicted revenues for the period of between $26.4 and $26.7 million.
Lewis Rose, CryptoLogic CEO, said: "CryptoLogic's new casino games went head-to-head with the World Cup and warm weather &ndash and won. Our Q2 revenue and earnings were far ahead of expectations and surpassed our results in Q1 2006, which is a typically stronger quarter.
"Players have embraced our new games and industry commentators agree that we have taken the online slot experience to the next level. CryptoLogic's player-centric, product diversification and innovation strategy is paying off."
CryptoLogic saw a marked increase in internet casino fees mainly due to the popularity of its expanding, high-margin slot portfolio and the release of 11 new games since March. Probably the most popular games are new Marvel Hero jackpot slots. You can also find the latest Cryptologic games at Omni Casino.
Source: InterCasino
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