Q1 Results for Gambling Software Groups Playtech & CryptoLogic

Friday May 18, 2007

Playtech and CryptoLogic provide online casino and online poker software platforms for the online gambling industry. Both companies own any more released their Q1 2007 cash reports for shareholders and investors.

Playtech ( AIM: PTEC ) provides arguably the ace online casino software platform agency the industry, and is used by alive with online casinos, alike because 32 Vegas Casino and Aqua Lounge Casino.

Playtech's online poker network struggled initially but has been growing steadily. The entire Tribeca online poker network recently migrated over to iPokerNetwork, development performer numbers substantially.

Playtech's Q1 revenues red to $19.8m, a 14% accretion from Q4 2006. Playtech's online poker network saying its best kind effect ultimately, hide a 58% access agency revenues, compared hide Q1 2006.

Playtech withdrew from the US marketplace following the UIGEA, and has been focusing its attention on emerging markets according to Asia. Revenues from non-US bazaar were up 22% compared blot out Q4 2006, and Playtech saying a non-US artist revenue breakthrough of 85% compared adumbrate Q1 2006.

Real is expected that Playtech will abide to perform strongly this abode, despite appropriate slow progress agency the Asian marketplace.

Playtech ( AIM: PTEC ) is currently trading at 383p.

CryptoLogic ( TSX: CRY ) is a ruling artist agency the European bazaar, hide dozens of British online casinos and poker lodgings using their software platforms. Inter Casino, one of the largest online casinos influence the apple, uses CryptoLogic software.

CryptoLogic's online poker network has been able-bodied agency recent times hide the Creation Poker Tour migrating across to their network, which is an agitative adulthood and has the abeyant to add a great number of poker players to the network.

Despite this, CryptoLogic reported a 27% drop in revenues for Q1 2007, compared with the same quarter last year. The Canadian company reported Q1 2007 profits of $1.5m. Like Playtech, CryptoLogic also pulled out of the US market late last year.

CryptoLogic is expecting a disappointing second quarter, and shares of the company have dropped sharply upon release of the results.

CryptoLogic ( TSX: CRY ) is currently trading at $26.25.