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First Quarter Results for CryptoLogic

For the online casino software provider CryptoLogic, the first quarter results for 2007 show that the company is making steady growth and progress in the industry. Though some of the revenue is down from previous years, the long-term plan for the company shows promise. The company is focusing on creating the basis and foundation of online casinos and gambling in Asia for what is predicted to be an explosive market in the near future, and additionally expanding operations in Europe where online casinos are cropping up fast now that internet gambling is restricted in the United States.

CrptoLogic’s first quarter report included a breakdown of the company’s new customers, new Web sites, partnerships, and more. Below is a breakdown of key information and changes from the first quarter of 2007.

Concerning Web sites and new CryptoLogic customers the company has three main additions. CrptoLogic launched Betsafe and Parbet –two up and coming brands for online casino poker in Scandanavia. Additionally, the company has a coveted three-year exclusive contract with World Poker Tour. And the PlayboyGaming.com online poker site will boast CryptoLogic’s platform and games.

And to further their goals to expand into the European market, many of CryptoLogic’s award winning games and software are offered in a variety of languages. And because of the company’s consistent focus on quality online casinos games, CryptoLogic retained the coveted Gambling Online’s Top Casino Software Award (this award is voted on by online casino players around the world).

Key to understanding the first quarter for the company is the word transition. Right now the company is experiencing a brand new CEO, as well as a handful of new partnerships. In the coming months many of the projects from the first quarter will come to fruition as CryptoLogic further dominates the online casinos industry.