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2005 starts strong with growth in
earnings for first quarter


Poker Plex licensor, CryptoLogic, has reported first quarter revenue growth of 33%, and a 27% growth in earnings on 2004 figures for the same period.

“CryptoLogic is clearly benefiting from its investment in growth, and we will continue to invest in order to maximise returns at this exciting time in our industry,” said Lewis Rose, President and CEO of CryptoLogic. “The Landmark legislation to regulate Internet gaming in the UK for the first time is further evidence of the global potential and growing acceptance that this industry is here to stay.”

The Internet poker fees derived from WagerLogic, CryptoLogics subsidiary company, rose by more than 200% over Q1 2004, accounting for 25% of Q1 2005 revenue, while licensees’ revenue from international markets accounted for 65% of total revenue, up from 60% in 2004.

The central poker room shared by WagerLogic licensees now attracts more than 6,000 simultaneous online players, and is one of the world’s top five revenue generating online poker

 

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