Cryptologic narrows fourth-quarter loss

[The Buzz]

CryptoLogic, the developer of branded online betting games and Internet casino software, announced its financial results for the three months and full year ended Dec. 31, 2009. The company reported a $24.82 million net loss compared to $25.97 million a year ago.

The company expects to narrow its losses as 2010 progresses. The GPWA has a press release from CryptoLogic:

http://www.gpwa.org/article/cryptolo...results-192732.

CryptoLogic shares were down more than 17% in trading on Tuesday morning.

[Caruso]

PaddyPower and William Hill seem similarly affected.

[Anthony]

All things considered that was not such a bad drop in revenue. Not sure it justified a 17% drop in the stock price.