Profits soar at CryptoLogic
28th March, 2008
CryptoLogic, one of the world's leading online casino software manufacturers, has reported a significant increase in profits, indicating that more and more people are choosing internet casino gambling online.
The firm said that its fourth-quarter revenue reached $20.4 million (£10.2 million) and that its net earnings were $5 million (£2.5 million).
"In 2007, CryptoLogic demonstrated the resilience of its business - and the strength of its strategy," Brian Hadfield, CryptoLogic's president explained.
"CryptoLogic led the industry in gaming innovation, broadened and deepened its customer relationships, grew both its core and emerging businesses, and made strategic investments in Europe and Asia.
"CryptoLogic enters 2008 with a new wave of momentum - and a new world of opportunity."
It added that new online slots games featuring Marvel Comics superheroes Spiderman and the Fantastic Four helped boost revenues.
In addition, the firm said the release of its newest line-up of online casino games in October also helped its performance.
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