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Deals Aligned for CryptoLogic

CryptoLogic is one of the top tier online casino software development companies in the industry, the company is incredibly well respected. Despite the company’s positive reputation in the market though, CryptoLogic has encountered some pretty strong setbacks in the past several years that have slowed down the company’s growth and forced the software development company to reassess several divisions with the company and alter their growth strategies and development path. In fact, in the past year, like many online casinos and related companies, CryptoLogi
c did not perform particularly well in the market. Betting and wagering levels are down and when gamblers spend less at the sites, the companies make less money.

As last year ended, CryptoLogic recapped the company’s efforts to stay viable and well in the global online casino gambling market. One of the key efforts has been to reduce the company’s total operating costs; CryptoLogic effectively reduced annual expenditure on operating costs by a very significant 20.6 million in response to the company’s lagging finances. The problem though, is only partially solvable internally; in addition to the changes in operating costs and structure for the gaming group, CryptoLogic is working on advancing the money that is coming in from licensees.

One of the online casino gambling company’s key licensee cut back costs and partially left the CryptoLogic network, that left a large dent in the company’s annual predicted revenue. As a way to ensure the retention of current licensees and to secure more, CryptoLogic has announced several key exclusive brand licensing deals have been put in place and will be developed throughout 2010.