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CryptoLogic hits first quarter loss as revenues drop

10th May 2012 12:23 pm GMT

Despite returning to growth last year, online casino games supplier CryptoLogic has reported a 12 per cent decrease in revenues to US$5.3m for the first quarter of 2012.

CryptoLogic said that the decline partly reflected increased amortization of royalties paid to a major third party brand licensor and higher amortization charges for new games. Excluding amortization costs, revenues would have fallen by 7 per cent to $6.6m, the company said.

Revenues from hosted casino fell 4 per [...]

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