Casino News: Cryptologic incomes drop

Cryptologic incomes drop

 March 3, 2010, 9:13 am (7 years ago)
Online gambling software manufacturer Cryptologic introduced its cotcomes for the 3 months and full year finished December 31, 2009 this week, indicating reduced incomes as a consequence of lesser wagering activity throughout the business, unfavorable currency factors, and a reduced contribution from a key licensee.

Profits dropped to $39.8 million, while net losses of $35.5 million were posted because of $24.8 million in non-recurring charges for asset damages and streamlining to support the company’s costs with its income base.

Total yearly recurring cost base, which contains operating, general and administrative, finance and amortization expenses, was dropped by $20.6 million to $55.0 million.
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