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Cryptologic is determined to turn things around.  Last year CryptoLogic, a leading software provider for online casinos, did not have great numbers to report, only promises of the future.  Most of last year was spent restructuring the company to position itself for big profits in the future.

The company recently went public with its growth strategy, so say they had no choice but to make it public after former CEO Javid Aziz criticized the management of the company.  CryptoLogic intends to generate a net income of $9 million and $10 million in 2009 if all goes according to strategy. 

CryptoLogic has clearlyh outlined several specific goals for 2009, to ensure their dominant place in online casinos for the future.

At the top of their list is significantly lowering the cost of operation.  By the end of the second quarter in 2009, CryptoLogic intends to reduce operating costs by about $13 million on an annualized basis.  This is a great thing to take advantage of as part of the appeal of online casinos and the rest of the Internet gambling industry is that operating costs are significantly cheaper than the brick and mortar gambling industry founded on excess and extravagance.  

Another wise move being made by the software provider is concentrating their focus on what they do best, providing great games for online casinos.  In order to achieve this focus, the company is completely outsourcing their poker network to GTECH Corporation by the end of the first Quarter in 2009.  CryptoLogic customers will benefit from increased liquidity in the poker room and the company will no longer have to bear the cost of operating a stand alone network.

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