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Financial Stability at CryptoLogic

On the heels of the announcement that CryptoLogic will have a new CEO bringing the company forward into 2008, the online casinos software development company also announced that it predicts a very strong 2007 year-end financial report to be released in the next couple of weeks. Although CryptoLogic had to restructure the company a bit after the U.S.’s online casinos gambling ban, the company took it all in stride, relocated to a more European central location in Dublin, Ireland, and has progressed forward in licensing internet gambling software to some of the top online gambling companies in the world.

Although the final report has not yet been released, CryptoLogic displayed constant quarter on quarter growth over the past year, and the company predicts that estimations for the fourth quarter of 2007 are actually modest compared to what will actually be released in mid-March. The CryptoLogic Board of Directors indicated that the anticipate earning announced in November will be fully realized with the fourth quarter report is released.

The new CEO of CryptoLogic, Brian Hadfield noted that the company’s current financial stability will be a positive asset going forward. He remarks, "CryptoLogic has the right people, products and partnerships. And with a foundation of financial strength, CryptoLogic also has the right strategy for global growth. Together, we can take this thriving business to a new level of success.”

The focus for the coming year will be to continue releasing and “develop innovative new software and innovative new commercial alliances around the world," comments former CEO of the online casinos software development company, Javaid Aziz. The company is looking to increasing lay a foundation in the Asian gambling market and increased European licensees.