Casino and branded gaming software provider CryptoLogic has unveiled a new growth strategy that focuses on its internet casino business.
The company said its growth in 2009 would be driven by its casino business and by the development and licensing of branded online games to leading gaming and entertainment brands. It predicted that deals signed with customers, including 888.com, PartyGaming and GigaMedia, will generate new revenues of at least US$8m this year.
"CryptoLogic has taken radical steps to focus on its core strengths as a developer of exciting online gaming content," said Brian Hadfield, CryptoLogic’s president and chief executive officer. "We’re 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."
