The financial figures have been released by two of the largest software manufacturers, CryptoLogic and Playtech both of whom supply online casino and online bingo software.
CryptoLogic is still feeling the effects of last years enactment of the Unlawful Internet Gambling Enforcement Act in the United States which basically made it illegal for financial institutions to process financial transactions between U.S. players and their gambling companies. The company has third quarter revenues of $17.5 million compared to the $27.7 million last year. Company spokesmen say that CryptoLogic is recovering from the effects of UIGEA and is seeing gains in every aspect of its business, particularly in Asia and Europe.
PlayTech, another manufacturer of bingo online and other gambling software reports an 81% gain in its third quarter revenues, from $15 million last year to $26.9 this year. The company reports that the revenue figures for October are better than they were in the pre-UIGEA period. Like other members of the online gambling industry, PlayTech felt the loss of the U.S. market but has more than made up for it with gains in other markets, particularly in Asia. PlayTech is one of the big name suppliers of gaming software, including online bingo software.
