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Online Casino Software Profile: Cryptologic |
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2004 saw some interesting developments in the online casino industry. Particularly for one online casino software provider named CryptoLogic. This leading software developer announced its financial results for the last quarter of 2004 and the revenues were at an all time high. CryptoLogic's gambling software powers many of the best online casinos on the net. The high company earnings for 2004 are proof that the software is popular and the online casinos that use the software are successful. The prediction is that this online casino software provider will see growth in the following year. Revenue for the year ended December 31, 2004 increased by 44% to $63.7 million (2003: $44.2 million).
CryptoLogic is well known internationally as a leader in the online casino software industry. These online casinos have a nice following worldwide. In 2004, more than 60% of licensees' profits came from international players, up from over 55% in 2003 and 40% in 2002 . The UK and Continental Europe remain the target and focus of the company, having grown to more than 30% and 20% respectively of licensees' overall revenue.
Lewis Rose, CryptoLogic's President and CEO, had this to say about the recent financial success of the company: "CryptoLogic continues to be the blue-chip e-gaming software company, with a winning hand in both the thriving online casino and poker markets. 2004 marked another year of revenue growth, profitability and cash generation for CryptoLogic. In 2005, we will continue to capitalize on our strong financial performance to invest for the future, build on our market strength and continue to drive profitable returns."
CryptoLogic makes all types of popular online casino games and recently it has been focusing on the global online poker market. Enhanced tournament capabilities, increased presence with brand name poker licensees have all contributed to a more than 165% rise in online poker fees in Q4 2004 over a year ago. Online poker accounted for over 20% of total Q4 revenue, ahead of CryptoLogic's target of 15% for the year. It's no wonder why this online casino software provider is so keen to get in on some of the poker fever that is going around.Check our directory for great online casinos that use their software.
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