Cryptologic’s Struggles

Cryptologic has been seeing some hard times for the past couple of years, and it all stems from trying to make up for being kicked out of the American market in the first place. Like many other online casinos, Cryptologic lost a large part of their revenue when the US passed the UIGEA, which is still an issue that is being examined as we speak by the European Commission. The hope is that with the new Presidential Administration, the EC will have better luck trying to come to a common ground agreement. Otherwise, they will be going above the US and even to the World Trade Organization.

Either way, Cryptologic has been having a hard time for a few years trying to bounce back from the devastating blow from the UIGEA. They have had a few different CFOs, and now another one is on the way out, kick and screaming. The latest news on that front is simply that the fired gentleman is refusing to abide by the terms of his severance package. Cryptologic has even tried to help themselves with a drastic change in location and methods, from moving to Ireland to revamping everything from the inside out.

Never before in the history of online slots has there been such an industry giant that has such a devastatingly hard time with all of the repercussions outside of the company’s control. Unfortunately times are hard for everybody and it looks like they simply can’t catch a break, except for a very slight turnaround in the numbers which is good news indeed.