From The Rock

Online gaming software provider, Cryptologic, has announced that they have reduced their losses for the second quarter of this year. Cryptologic provide online bingo, casino and poker operators with software for users to play on. The company is one of the market leaders and clients include some of the best gambling sites online.
Losses were reduced from $2.6 million to $1.5 million as the company’s revenues increased by 3.4 % to $16.8 million. The reason for the growth is due to several high profile contracts being signed in recent months. Cryptologic have made deals with the Gaming Media Group ltd and media giants bskyb.
Brian Hadfield, Chief Executive Officer for Cryptologic “While seasonality made this a more challenging quarter, at Cryptologic we remain committed to our goals and confident in our growth,”

Hadfield went on to say, ‘While modest growth is encouraging, aggressive growth is our goal. With an upgraded technology platform and five new customers signed in the last quarter, CryptoLogic’s challenge is to execute with excellence and that should lead to significant revenue and earnings growth from both Europe and Asia.’
There are several sites keeping visitors up to date with all the best gambling news. Check them out to make sure you don’t miss any important news!