Cryptologic Shows Positive Results, Despite UIGEA

27 May 2025

The Unlawful Internet Gambling Enforcement Act certainly hit hard many of the online casino companies, but it seems as some of them has managed to survive the attack pretty. Cryptologic, for example, one the leading online gambling software providers, reported this week another successful quarter, which included listing eight new licensee sites, releasing 40 new games, having some interesting acquisitions and continuing their Asian expansion. In addition, the company revealed revenue and earnings of $19.6 million and $1.5 million, respectively, in this first quarter. Among other things in this period, Cryptologic saw a, increase in revenue of $4 million that were made from online casino jackpots.

At the other hand, the successful online casino software supplier invested this month $1.4 million for the building of the company's new headquarters in Europe and $0.7 million in licensee related expenses "This first quarter was mainly focused on investments for the future" says Javaid Aziz, CryptoLogic 's President and CEO. "We are poised for long term growth on both the markets of today – Europe – and those of the future – Asia" added Aziz.

As we can clearly see from the figures, Cryptologic did not suffer as much as other online casino companies from the UIGEA. The main reason for this is simply the fact that most the company's business come from Europe, which was not affected by the ban, and maybe even benefited a from it. Nevertheless, the company has gone through a series of changes, as prior to the legislation of UIGEA licensees' revenue from Europe-based players was approximately 70 percent of total revenue while now all revenue is from non-U.S. based players.

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