Gambling firm's profit falls after U.S. online ban
Gambling software producer CryptoLogic Inc. said yesterday its
fourth-quarter profit dropped 70.6 per cent to $1.7 million (U.S.) in its
first financial performance report since the U.S. government declared a ban
on online gambling. For the ended Dec. 31, the company's earnings were
equivalent to 12 cents per diluted share, down from $5.8 million, or 43
cents per share, in the same period last year.
fourth-quarter profit dropped 70.6 per cent to $1.7 million (U.S.) in its
first financial performance report since the U.S. government declared a ban
on online gambling. For the ended Dec. 31, the company's earnings were
equivalent to 12 cents per diluted share, down from $5.8 million, or 43
cents per share, in the same period last year.
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