Casino News: CryptoLogic 1st profit in 3 years

CryptoLogic 1st profit in 3 years

 August 13, 2011, 3:40 am (6 years ago)
CryptoLogic has been forced to deal with some difficulties and has recorded its first quarterly profit in three years.

The Canadian online branded games and casino company witnessed its overall revenues og the 2nd quarter of year 2011 increased gradually to a little less than $7000,000. Same period last year saw the profit of $6740,000 indicating an increase of $260,000.

According to the business, its Q2 numbers gained an advantage from a decrease of $800,000 in liabilities formerly provided against profit via the solution to a conflict with a significant supplier of games.

During the last days of September last year CryptoLogic settled with Marvel, worldwide-known comic book company. They signed the agreement which includes the redrawing of the licensing contract between the two parties on a "non-exclusive" basis.
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