Online Gaming Major Issues Profits Warning
By staff
Cryptologic is considered a beacon and model in the online casino industry, but yesterday the company was forced to warn Wall Street of lower than expected earnings due to weak traffic at its clientsí web sites.

Q4 brings with it expected revenues for the company of $11.3 million and earnings of only $4.2 million. Although still well in the black, $4.2 million fallís $800,000 short of Wall Street analystís earlier predictions of $5 million earnings.

The good news for players is that the underperformance is partly due to high jackpot winnings that include the largest single slot win on the internet in its history.

Other factors contributing to the slump are lower traffic rates and high credit card rejection rates.

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