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  Gambling News - February 20, 2006  

Software Provider Reveals Strong Fourth Quarter and Yearly Results

For Lewis Rose, CryptoLogic’s CEO and president, 2005 was a milestone year. “2005 marked a decade of innovation and consistent performance,” Rose commented in a statement announcing the company’s fourth quarter results and yearly trading figures from 2005. “The results speak for themselves - we achieved all-time highs in revenue and earnings. CryptoLogic is among the industry growth leaders in both the internet casino and internet poker markets."
Indeed the software firm’s fourth quarter results are impressive. Revenues for the same period (October-December) in 2004 were $17.9 million U.S. dollars. In 2005 this figure increased to $25.1 million, while yearly revenue increased from $63.7 million to $86.3 million.
The company’s fourth quarter revenue indicated that further growth is predicted for both internet casino products and poker. New casino game Bejeweled and the theme of Marvel casinos have proven to be among the firm’s top performing products. 2005 has also seen the completion of CryptoLogic's $12.5 million dollar investment program which aims to enhance the company’s software and systems to ensure it remains one of the software gaming industry’s leaders.
Additional events that made 2005 the company’s most successful year include the launch of a new poker site for Greek language speakers. William Hill, the United Kingdom’s most prominent sports betting firm, introduced its internet poker site powered by CryptoLogic to wide acclaim. 
Revenue from CryptoLogic’s traditional casino business increased by 20 percent to $15.5 million in the fourth quarter, while poker software fees gained the company $27 million dollars overall in 2005. Revenue from poker fees rose a staggering 92 percent on last year, indicating the extent the worldwide poker boom has had in 2005. Licensing fees from CryptoLogic’s casino products also increased and rose 62 percent in the fourth quarter and 11 percent overall to $53 million in 2005.

While the company managed to significantly grow its traditional business, it has also remained true to its 2005 aim of encouraging geographic diversification. Total revenues from international licensees were up 65 percent on the last quarter and up 60 percent on 2005 revenues.

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