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Cryptologic set for successful 2007

Having already been named as one of the stock tips of 2007, online software developer CryptoLogic has again been heralded as one company that could make it big this year.

In November the Motley Fool investment advisory site tipped CryptoLogic as its international stock to watch for 2007, with investors now appearing to be picking up on the tip.

The end of 2006 saw CryptoLogic's stock begin to rise on the back of its announcement that it had renewed a contract with William Hill to provide the bookmaker with online software.

The two companies also announced the creation of a Spanish poker site, and with European markets opening up the new year could be a good one for online casinos.

Such developments meant that CryptoLogic gained 87 cents to $21.22 on the Nasdaq share index &ndash a rise of 4.3 per cent.

The Motley Fool recommended the software provider on the basis of its free cash reserves and lack of debt.


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