Profits up for Online Casino Software Company

Cryptologic Inc., online gaming software developer, reported good results from its second quarter and first half of 2005. The company reported revenue up by 33% to $19.9 million and earnings up 48% to $4.7 million.

¡°CryptoLogic continues to benefit from both the right products and the right strategy,¡± said Lewis Rose, President and CEO. ¡°For CryptoLogic, this means offering the best games to some of the world's best gaming brands and investing in the world's best markets for online gaming. That¡¯s why we¡¯re achieving positive returns through solid casino performance and 17% sequential quarterly growth in poker, well ahead of the Internet poker industry.¡±

The company¡¯s WagerLogic subsidiary also returned healthy figures with fees from internet poker accounting for over 30% of quarter two¡¯s 2005 revenue. Cryptologic¡¯s updated poker software and growing choice of lower limit tables has proved popular with players of all skills levels. New games introduced include multi-line video slots and scratch card games.


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