Playtech & Cryptologic Results

Playtech and Cryptologic have just released their first quarter results for 2007, with Playtech showing an increase and Cryptologic showing a decrease. Playtech has what some would call the best online casino software program in the industry, and many of the best online casinos use their platform. Cryptologic is a big player for the same reason, only in the European market – as their software platform really does dominate the industry over there.

Playtech showed an increase in revenues of 14% from the fourth quarter, which came out to $19.8 million. Their online poker network, although shaky at first, has shown its best results to date with a 58% increase in revenues over last quarter.

That increase could have to do with all of the time they have spent marketing themselves to an Asian industry since pulling out of the US market. Their non-US revenues were up 22% from last quarter, and up 85% from same time last year.

Cryptologic did not perform as well, for they had a 27% drop in revenues, compared with same time last year. They also pulled out of the US market, but have not fared as well as Playtech. They are also expecting to have a drop from last year for the second quarter results. As they have previously had a strong showing, experts think it won’t be long before they refocus their energies and start increasing revenue.

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