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November 9, 2007
Online gambling software provider Cryptologic has released its results for the third quarter showing the effects of the Unlawful Internet Gambling Enforcement Act (UIGEA) clampdown in the US are still being felt in some sectors of the online gaming industry. Total revenues have come in at $17.5 million as compared to $27.7 million during the same time last year and reflect a post-UIGEA business environment that has proved tough for many online gaming companies. Since the implementation of UIGEA in the US last October the online gaming industry, including online bingo, has fought to regain the losses incurred from being banned from doing business with US customers. Free online bingo games operators can no longer engage in financial transactions with US-based customers. "CryptoLogic strengthened every part of its business in the third quarter, and this improved our top-line revenue, our bottom-line profit and our competitive position in both Europe and Asia," said Javaid Aziz, CryptoLogic's President and CEO. "We unveiled new games, launched new sites, acquired new assets and strengthened CryptoLogic's relationships with some of the world's blue-chip gaming and entertainment brands. The result is new stability, profitability and sustainability for CryptoLogic's growth in the long term." Written by John Witherspoon – Playing bingo online is fun. Relax and play online bingo from the comfort of your home. We’ve collected the best online bingo games for you.
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