Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

Online Casino Weakness

CryptoLogic is considered as one of the most successful online casino and poker software developers in the industry. This is mostly attributed to the software development company’s highly-regarded contributions, including its impact in advancing the industry of online casinos and poker. However, despite the reputable status that it enjoys, CryptoLogic has experienced a down period in its financial figures during the second quarter of the year 2010. The less-than-satisfactory success rate and revenue losses, as compared to its formerly strong financial performance, brought about various damages that severely affected its overall status. Some of the major setbacks include poor financial figures; the need to restructure its operations and decrease expenditures through cost-cutting and work force reduction; and the company’s loss of its Chief Executive Officer named Brian Hadfield. After participating in the restructuring plan, Mr. Hadfield resigned as a Director, and finally left the company.
 

Still, the renowned online casino software developer aimed at retaining stakeholder-confidence in the corporation by crafting a statement addressed to shareholders. The statement regarding Q1 performance include acknowledging the fact that the company indeed faces challenging trading conditions with slow progress and that simultaneously, the Board continuously perseveres to improve the company’s performance, and find avenues to further enhance its strategies. The popular software development group is widely recognized for developing credible and well-liked software for online casinos and poker sites; the company continues to strive amid disappointing circumstances.

The second quarter, however, also brought in some good news with the launching of 51 newly branded internet games, which actually helped in making the third quarter look significantly more promising. Furthermore, three clients have signed up for Instant Click, which is the company’s new online casino offering that aims to further expand CryptoLogic’s total possible market.