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Non-Tech : Cryptologic (CRY/TSE): First Profitable Internet Casino
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To: Lola who wrote (1265)8/30/1999 8:36:00 AM
From: Mephistopheles  Read Replies (1) of 2782
 
"Brandon Osten, an analyst with Sprott Securities Ltd. in Toronto, said the Starnet case increases the uncertainty in an industry that already lacks regulatory or legal guidance."

"You've got to distance yourself from [the Starnet situation]," said Mr. Osten, who describes CryptoLogic as a clear industry leader. "They've got cash. They've got earnings. When you read the industry trades, there's never a bad thing said about this company."

He said CryptoLogic's earnings speak for themselves. The company's revenue for the second quarter ended June 30 was $8-million (U.S.), compared with $5.2-million a year earlier. Profit was $4.9-million, representing about 60 per cent of revenue.

"The [stock] is still a potential moonshot if these overhanging legal risks [facing the industry] go away, there's no question about it," Mr. Osten said.
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