Revenues at online gaming firm rise

DUBLIN-BASED online gaming company, Cryptologic has reported revenues of $6m (€4.22m) for the first quarter of this year — 9% up on the final three months of 2010.

The former Canadian-based company, which is one of the five largest software service providers for branded online betting games, reported total losses of just over $600,000 for the quarter — down from $900,000 in the previous quarter and reduced from $3.62m for the corresponding period last year.

On a year-on-year basis, however, first-quarter revenues fell by $1.6m.