CryptoLogic Shares Fall

9 Aug 2005

TORONTO – As reported by the Canadian Press: "Shares of CryptoLogic Inc. fell about 25 per cent Tuesday after the gambling software developer revealed it may lose a key customer, a move that could lead to a "material" drop in profits next year.

"CryptoLogic shares (TSX:CRY) dropped $7.23 to $21.77 in early trading, rebounding slightly to $22.30 by midday, with more than 413,000 shares changing hands.

"One analyst called the market's reaction 'clearly overdone.'

"Just before stock markets opened, the Toronto company announced that Betfair, a British gambling website that uses CryptoLogic's poker software, is considering developing its own software.

"…Online poker accounted for 30 per cent of CryptoLogic's second-quarter revenue. Internet poker fees soared 180 per cent year-over-year and rose 17 per cent from the first quarter…"

CryptoLogic Shares Fall is republished from CasinoCityTimes.com.

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	CryptoLogic Shares Fall 9 Aug 2005 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> TORONTO – As reported by the Canadian Press: "Shares of CryptoLogic Inc. fell about 25 per cent Tuesday after the gambling software developer revealed it may lose a key customer, a move that could lead to a "material" drop in profits next year. "CryptoLogic shares (TSX:CRY) dropped $7.23 to $21.77 in early trading, rebounding slightly to $22.30 by midday, with more than 413,000 shares changing hands. "One analyst called the market's reaction 'clearly overdone.' "Just before stock markets opened, the Toronto company announced that Betfair, a British gambling website that uses CryptoLogic's poker software, is considering developing its own software. "…Online poker accounted for 30 per cent of CryptoLogic's second-quarter revenue. Internet poker fees soared 180 per cent year-over-year and rose 17 per cent from the first quarter…" CryptoLogic Shares Fall is republished from CasinoCityTimes.com.