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CryptoLogic, the leading software provider for online casinos, has made efforts, starting back in 2008, to improve the profitability of the company in the future.  Their plan is detailed and specific.  It is likely they have made their strategy public to put investors at ease after making little to no income in 2008.  2008 is mostly looked at as a rebuilding year for the promising software provider.

One major change in operation is that CryptoLogic intends to put online casinos at the center for growth in the company.  This means the company will focus their energies on the licensing and development of branded games to leading online casinos and entertainment brands. 

This particular part of the strategy was some what unprecedented in online casinos until the company began doing it last year.  But major online casinos and Internet gambling operators, such as PartyGaming, GigaMedia, and 888.com desperately desired access to some of CryptoLogic’s hottest gaming titles.  Contracts with these leading companies are expected to generate no less than $8 million in 2009.  CryptoLogic fully intends to continue seeking licensing contracts in 2009.

Recently the company has signed another licensing contract, this time to provide games for the Gaming Technology Solutions plc online casinos; including bwin and Unibet.
 
“CryptoLogic has taken radical steps to focus on its core strengths as a developer of exciting online gaming content,” said CryptoLogic President and CEO, Brian Hadfield. 

“We are on track to return to profitability and generate cash from the second quarter of 2009.”
 
“Our streamlined operations, lower operating costs and commitment to creating compelling customer experience, together with a highly profitable build-once-sell-often model, provides a solid springboard for long-term growth and shareholder value.”

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