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Despite further growth from its branded casino games offering, CryptoLogic limited has reported first quarter revenues of $7.6m for the three month period ended March 31st, a fall of 25 per cent versus the previous year, with high expenses continuing to impact the company's bottom line.

Having recorded its first annual profit in 2009 after four years of loss, US online horserace betting provider has slipped back into the red, posting a net loss of $0.5m for the first quarter of 2010 after incurring costs of $1.0m in legal and professional fees directly related to its impending acquisition by rival Churchill Downs Incorporated.

Benefiting from strong growth in the company's casino product as well as the first contributions from Virtue Fusion following its acquisition earlier this year, Playtech Limited has reported a 25 per cent year-on-year increase in total revenues to €36.1m for the first quarter of 2010.

Tipp24 said Thursday that it will look to expand its activities to include skill-based games whilst continuing its European growth strategy in countries outside of its home market of Germany, as the company posted first quarter revenues of €25.0m, a decline of 15 per cent compared to the same period last year.

Unibet Group plc has reported gross gaming revenues of £41.8 million for the first quarter of 2010, an increase of 16 per cent versus the same period last year, with strong growth from the company's sports betting and casino products offsetting a more than 40% fall in poker revenues. Shares in the company slumped however as it warned that last year's EBIT figure was unlikely to be exceeded this year.

Churchill Downs Incorporated (CDI) has reported a 2 per cent increase in revenues from continuing operations to $75.1m for the first quarter of 2010, positively impacted by revenues from the newly opened Calder Casino in Florida as well as continued growth from the company's online wagering service

Figures released this week show that competition from ever more appealing and sophisticated gaming machines in arcades and the increasing popularity of online gaming have caused profits at Dutch state-monopoly Holland Casino to fall to just €7.7m in 2009, down from over €100m only four years earlier.

Sweden's Entraction AB said Thursday that it will focus greater efforts on sales in order to maintain revenues in the face of a general decline in the poker market, as it reported first quarter net sales of SEK98.8m (€10.2m), a decline of 18.4 per cent versus the previous year.

UK bookmaker William Hill said Thursday that net revenues from the company's William Hill Online (WHO) business increased by 25 per cent during the 13 week period ended March 30th, with significant growth from its online sportsbook helping WHO operating profit improve by 51 per cent to £23.3m.

Following a solid performance last year, PartyGaming plc has reported a 27 per cent increase in total revenues to $127.1m for the first quarter of 2010, boosted by strong growth across all the company's product verticals except poker.

Sweden's Net Entertainment has reported revenues of SEK87.9m (€9.1m) for the first quarter of 2010, an increase of 28 per cent compared to the same period last year, following continued growth from existing customers as well as the launch of new customers during the period.

GIQ Magazine