International edition
June 17, 2021

The firm to release second quarter results on August 12

CryptoLogic expects poor quarterly financials

(US).- CryptoLogic is preparing to release financials on August 12, however says that a recent drop in revenue and increased costs has hit second quarter results hard. In the first quarter, it reported a net loss of us$ 3.2 million, but remained optimistic about the growth potential that recent improvements in wagering activity and new licensees would bring.

H

owever last week, the Internet gaming developer said that they do not expect to release favorable results for much of 2010.

 

“Despite the World Cup, casino revenue showed a modest gain quarter on quarter but was lower than anticipated due to a substantial swing in player preferences for blackjack and roulette,” although wagering and deposit levels are holding steady.

 

Furthermore, CryptoLogic said that the launch of its full suite of casino games at Betsafe has been delayed until later this month, further effecting second quarter results.

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