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Investor praises CryptoLogic

On the back of online gaming firm CryptoLogic's recent investments in sites such as Parbet and PlayboyGaming, and its renewal of its contract with William Hill, an online analyst has praised the company's potential for growth.

Writing on the MotleyFool website, the author admits that he currently owns stock in CryptoLogic, and that his advice does not constitute a tip to buy or sell stock, but nonetheless praises the software provider.

According to the writer, "[Recent] developments demonstrate the value added services of CryptoLogic and the strategic use of using CryptoLogic as a partner to get up and running in a cost effective, smooth and efficient manner."

CryptoLogic's own position on the UIGEA is also cited as evidence of the current health of the company.

"Acquisition opportunities have multiplied since the new US law, and the company will continue to evaluate new and existing prospects," Motley Fool quotes CryptoLogic management as commenting.

The most recent financial statistics for CryptoLogic show that third quarter revenue increased by 32 per cent in 2006.


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