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CryptoLogic Comes Back from the Dead

CryptoLogic is known for its state of the art online slots and casino games, but lately they have also been known as a sinking ship. With the passing of the Unlawful Internet Gambling Enforcement Act, or UIGEA, many thought that the online slots and gambling software company would not be able to continue because of the loss of income.

However, the company has surprised everyone by not only staying around but by showing an increase in their revenue. In fact, the online slots and gambling software company has announced an increase in earnings for the fourth quarter of fiscal year 2007.

The company’s full year results were not that great as they showed a negative turn for them, but with an increase of 153% over the year earlier period, the company has come back in a big way. They are reporting $4.3 million, up from $1.7 million the year before.

The company says that they think a lot of it has to do with their latest online slots offerings. They released a slew of new games this past October, and then on top of that they released Spider-Man and Fantastic Four online slots games this past December.

Back to March 2008 Archive.