Online Casino Technology Firm Announces Record Profit
Online casino technology company CryptoLogic Inc has announced its first quarter profits soared 58 per cent to $7.7 million dollars. And despite its association with the online casino gaming industry, the firm also revealed that it has completed development on new technology for Playboy. The news came one day after the online casino technology firm declared a 71 per cent increase in the quarterly cash dividend for its shareholders, which is now 12 cents a share.
The online casino technology firm’s CEO, Lewis Rose, was quick to point out that the recent decision to focus on product diversification and market location enabled the company to achieve its results. However, while the results were pleasing to online casino industry analysts, it was the deal with Playboy that raised the most speculation. The three year deal with Playboy will see CryptoLogic launching a fully branded online casino on Playboy’s behalf. The firm will provide full marketing and customer support for Playboy, along with electronic cash management facilities.
According to Rose, Playboy’s new online casino site will target casino players outside the controversial U.S. market, and if plans go well, a Playboy online casino poker site may not be too far away. CryptoLogic’s shares jumped ten percent last week after an earlier announcement that it had extended terms with its largest customer, Overseas Internet Gaming Entertainment NV.