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Chances are that if you have gambled at online casinos anywhere in the world, you have heard of CryptoLogic, the internet gambling software provider. CryptoLogic has stellar player ratings and consistently wins prizes and contest for the best and most innovative online casino gambling software. Part of the company’s success comes from its constant productivity, and 2007 has further shown CryptoLogic team’s productivity.

For the first quarter of 2007, CryptoLogic boasts new business acquisitions, expansions into the Asian online casino gambling industry, eight new licensee sites, and an impressive 40 new online casino gambling games. Though this quarter’s revenue is down a rather large percentage from the first quarter of 2006 (27.5 percent to be exact), the company has undergone some significant internal changes, plus the changing international online casino gambling climate could account for the drop.

Unlike many companies involved in the online casinos industry, CyptoLogic was not too severely hit by the U.S. ban on internet gambling. Prior to the U.S. legislation, though CryptoLogic did have some revenue coming in from the U.S., and majority of the focus was on Europe. And now, some of the new announcements last quarter indicate the company is shifting a lot of focus into expanding into the Asian online casino gambling industry.

CyrptoLogi’s CEO and President, Javaid Aziz, had the following comment on the first quarter figures: “At CryptoLogic , the first quarter was about investing in the future, and charting a course for global growth. We've launched five new customer sites since December, and have seven more in the queue - including two for Holland Casino, and two for World Poker Tour. With our largest customers on long-term agreements, and modest revenue expected this year from our Asian venture, CryptoLogic is poised for long-term growth in the European markets of today - and the Asian markets of tomorrow.?”