Recession Hits All Even Online Casino Software Providers
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It seems even online casino software companies are starting to feel the crunch of a recession. Two major online casino software providers have announced declining results in their revenues for the third quarter and news may be bleak for their investors.
The first to out the discouraging news was PartyGaming and now it looks as though Cryptologic may be feeling some loss also. Cryptologic is the software company that provides the popular Marvel Comic collection of online slots. If their feeling the crunch, many others may be too.
Cryptologic announced yesterday that when their quarterlies are released on November 5th, 2009, that a decline in revenues should be expected. This same time last year the software company was producing one third more in revenues than this quarter. However, Cryptologic did report that licenced games have had growth in the last quarter, which may shed some light on the end of the year results.
Although signs are pointing in decline, Cryptologic is still positive and believes that continued growth is in their future. Just like most other companies around the world, they too are going to have stick it out and hope for the best.
