Cryptologic Release 2009 Revenue and Profits Reports

Cryptologic, the online casino software company behind the likes of Intercasino, has released their full financial report for 2009. Surprisingly, Cryptologic has reported revenue losses of $21.7 million, bringing total revenues in 2009 to $39.8 million. The casino software company has also recorded net revenue losses of $35.5 million, suggesting that nearly $25 million of this revenue drop was attributable to ¡°asset impairments and restructuring to align the company's costs with its revenue base¡±.

One of the casino company¡¯s biggest moves in 2009 was its agreement with Warner Brothers, which means the likes of Intercasino now offer Batman and Superman themed slots. Branded slot machines, such as Cryptologic¡¯s Marvel selection, have proved the biggest profit maker in 2009, as they accounted for 7.1%, or $2.8 million of total profits earned by Cryptologic in 2009. According to reports, branded slots revenues grew by 51% in 2009, suggesting that the software company may begin looking for new deals in order to maximise the money-making ability of these slots. Cryptologic¡¯s financial report for 2009 also suggests that investment in the online casino lobby software will ¡°enhance long term revenue opportunities¡±.