February 19 - Online gambling software provider Cryptologic has
released positive fourth-quarter and year-end results this week with both its
online casino and online poker divisions showing strong growth...
Cryptologic has a strong end to 2005 with Q4 revenues of US$25m, up from
US$18m in the same period in 2004. Total revenues for 2005 were US$86.3m,
compared to US$63.7m for 2004. Earnings for Q4 2005 were US$5.8m, compared to
US$3.8m for the same period in 2004, and total 2005 earnings for 2005 were
US$20.5m, a significant increase compared to US$13.7m for 2004.
Poker fees earned by Wagerlogic, its licensing division was up by a massive
92% to US$7.9m, compared to 2004. Poker software fees accounted for 32% of Q4
2005 earnings, and up126% to US$27m for 2005.
Online casino revenue was up by 20% to US$15.5m compared to the same period
in 2004. Casino fees accounted for 62% of total Q4 2005 revenue, and was up
by11% at US$53m compared to 2004.
Cryptologic's international diversification is proving successful as over 65%
of its revenues were earned in International (non-UK) markets.
Cryptologic expects growth to continue and forecasts 2006 Q1 revenues ranging
between US$25.1m and US$25.5m.
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