UPDATE 1-Cryptologic Q1 loss widens on subdued wagering activity

* Q1 loss/shr C$0.25 vs yr-ago loss/shr C$0.10

* Rev down 25 pct

* Sees branded games revenue gaining momentum

* Sees Q2 rev ahead of year-ago period

May 7 (BestGrowthStock) – Internet casino and branded gaming
software company CryptoLogic Ltd (CRY.TO: ) posted a wider
quarterly loss hurt by subdued wagering activity, but forecast
a second-quarter revenue ahead of the same period last year.

The Dublin, Ireland-based company also said its internet
casino hosting suite for Betsafe.com will go live in the second
quarter.
For the first quarter, the company posted a net loss of $3.2
million, or 25 cents a share, compared with a loss of $1.3
million, or 10 cents a year earlier.

Revenue fell 25 percent to $7.6 million, but the company
expects sales to improve gradually, driven by recent
improvement in wagering activity and new licensees.

CryptoLogic sees branded games revenue gaining momentum, as
new games come on stream.

Shares of the company closed at C$3.30 Thursday on the
Toronto Stock Exchange.

Stock Market Advice

(Reporting by Gowri Jayakumar in Bangalore; Editing by Ratul
Ray Chaudhuri)

UPDATE 1-Cryptologic Q1 loss widens on subdued wagering activity