Market Briefs

19 August 2008

Tough Second Quarter Hits Crypto

As expected, second-quarter revenue for CrytpoLogic Ltd. dipped by 8.1 percent versus the previous quarter. While analysts are expecting a slow third quarter, the fourth quarter looks to be where the software developer's business may regain momentum.

Across the board, it was a challenging quarter for the Dublin company. Revenue for its flagship casino software business fell 12.9 percent, quarter over quarter, to $10.8 million on the 2008 UEFA European Championship, warm weather in key markets and unusually large jackpot wins.

Crypto's poker business, meanwhile, dropped a further 14.2 percent versus the previous quarter, with revenue of $3.6 million.

While the company announced two new licensing deals on the release of its results Friday -- both for casino software -- the news was not enough to cheer analysts wary of CryptoLogic's struggle with poker liquidity.

To view the full story, click here.

Weekly Statistics from

    Listing: Main Market, London Stock Exchange

    Low Close: 523 pence

    High Close: 537.5 pence

    Weekly Change: - 2.6 percent

    Market Capitalization: £67 million

Playtech in $1.75 Million Deal with MixTV

Playtech Ltd., a veteran of the live video-stream gaming space, has shelled out $1.75 million to acquire MixTV, an Israel-based subsidiary of Nevada's Win Gaming Media Inc.

MixTV provides technology for the delivery of mass-multi-player live-gaming applications; the deal, therefore, supplements Playtech's existing live-dealer offering with a mass-participation, live-TV product.

James Hollins, an analyst with Daniel Stewart & Co. in London, called the deal a low-cost and sensible one for Playtech.

The London-listed software supplier has been on the live-gaming scene since 2003, when it launched Live Gaming System in conjunction with one of its affiliates, and in 2004 opened Live Gaming Facility, which targeted the Asia-Pacific region.

To view the full article, click here.

Weekly Statistics from

    Listing: Alternative Investment Market, London Stock Exchange

    Low Close: 503 pence

    High Close: 530 pence

    Weekly Change: + 5.3 percent

    Market Capitalization: £1.26 billion

ISWI's Future in Doubt, Licensees Future Uncertain

Interactive Systems Worldwide Inc., the New Jersey software developer, has warned it may delist and cease operations, prompting questions regarding where its collection of high-profile licensees may take their business.

The news came in a statement to the over-the-counter bulletin board Thursday, wherein the company revealed it did not have the financial resources to cover the costs of filing a third-quarter report.

"The Company believes that since it will no longer be current with its SEC filings its common stock will shortly no longer be traded on the OTC Bulletin Board," it said. "The Company currently believes that its common stock will continue to be quoted on the Pink Sheets."

ISWI is projecting net income for the 2008 fiscal year as a net loss though without the ability to prepare financial statements, the company could not release a more specific forecast.

To view the full article, click here.

Weekly Statistics from

    Listing: Over-the-counter bulletin board

    Low Close: 20 cents

    High Close: 28 cents

    Weekly Change: - 28.5 percent

    Market Capitalization: $2.45 million

Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.