Poor Revenue Figures For Cryptologic
Although it is one of the top most successful software developers in the world of online casinos, Cryptologic has not been a new to the economic downturn that the entire world has been gripped by. It makes sense that many major online casino operators would be having struggles considering the fact that we are still mired in the depths of an endless economic recession. But one would think that Cryptologic, one of the powerhouse developers in the business, with be able to remain relatively unscathed through all of the financial troubles. Unfortunately, that is just not the case. Most recently, the corner to financial report came out in the figures were very disappointing. Read about the same time, the chief executive officer also resigned.
What this means is that Cryptologic will be moving in some brand-new directions pushing forward with a restructuring plan. Right now, they have a CEO who has been assigned to take the place of the former CEO to resign, but that is only on an interim basis for right now. Many of the operations devoted to online casinos have succeeded financially during the second financial quarter of 2010, Cryptologic is not a member of that club.
Altogether, total revenues for the gambling operation dropped to 6.7 million. There were a few bright notes financially and not involved in increase for branded games revenue up to 1.5 million. On the other hand, poker revenue was down to $700,000. It will be contesting to see how Cryptologic is able to move forward and transformed and restructure itself you could possibly pull up so much better figures for the third financial quarter of 2010.
cryptologic revenue