“2009 was a tough year as a number of adverse factors including a global economic downturn overshadowed the company’s progress in implementing its innovative new strategy to reduce costs and return to growth. At the same time, new business momentum remains encouraging as branded games continue to roll out and hosted casino licensees implement new initiatives. With new licensing activity staying strong and the overall online casino/gaming market showing some improvement, we look to the year with cautious optimism.”
CryptoLogic said they expect to further reduce overhead cost in 2010 by implementing additional measures to streamline operations and lower overall employee expenses.
As well as integrating its Cyprus office with existing operations in Malta. As a result of the relocation being completed later this year the company hopes to enhance customer service and back office capability. Staff based in Cyprus are being offered the opportunity to relocate in Malta but rumors suggest the deadline for this has been postponed.
In addition the company is also actively developing gaming content tailored for the rapidly expanding mobile Internet, social networking and 3-D environments with its first 3-D games anticipated to be launched in Q2 2010.
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