CryptoLogic Preempts Poker Figures for Third QuarterCryptoLogic Releases Third Quarter Results Update; Expects $3.4 Million Trading Loss |
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Online gaming software developer, CryptoLogic, has today released a preview of its third quarter results which will be announced in full on Nov. 5.
The company has seen a decrease in wagering volumes in both casino and poker compared to last year, and it expects to report third quarter revenue of $9.6 million and a trading loss of $3.4 million.
On a positive note, the company has increased its branded games offering to 33, that’s 20 more than in the second quarter, and 30 more than the first quarter of 2009. It states that the new games were not launched by customers until late in the period, hence revenue from these will only start to be seen in the fourth quarter.
The update is just a taste of the full results soon to be released.
Earlier this year, Boss Media took over some online poker rooms that were once on CryptoLogic’s network. This move was part of the company’s decision to shift its focus from online poker to casino and branded gaming.
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