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Cryptologic Warns of Revenue Drop

Online gambling software firm Cryptologic has said it expects to report a 31 percent year-on-year fall in the third quarter of 2009 with revenue dropping to US$9.6 million from US$14 million last year.

The company blamed a combination of sluggish wagering due to the recession and a failure of seasonal increase in demand normally seen during the month of September.

The company said that there was a strong take-up of branded CryptoLogic games by new licensees during the quarter, expanding its total number of branded games on the market to 33. Revenues from new games launched during the quarter will begin to come through during the fourth quarter of 2009.

Gambling911.com Staff

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