Online Casino News: Recession Hits Everyone
by Joanne R Thursday October 29, 2009 at 11:16 PM
It is no secret that every industry has
been hit hard by the recession. The
online casino industry might like to
think of themselves as immune to the
recession but they aren't. They are as
confounded as the rest of us are and no
matter how often they tried to make it
seem as if it is not an issue for them
their shareholders would disagree.
Big online casino companies like Party
Gaming and Cryptologic have recently
announced significant drops in revenue.
Both of these online casino companies
have released very popular games this
quarter with Cryptologic providing the
popular Marvel comic based games which
are already a hit with online casino
players. So how is it that if these two
companies are being hit by the recession
that the online casino industry
continues to deny that there is a
problem?
Some say that because of all of their
crowing to the land-based community
about how they were immune to any sort
of recession that for them to admit now
a problem would show that they're not
any better than anyone else. Others say
it is simply a case of denial and that
the online casino community truly feels
that they will rebound before everyone
else. Experts say that this is probably
not likely and that they and all other
casinos will most likely rebound around
the same time
Cryptologic announced that they thought
that the revenues would be down, but
that they did see growth in their
licensed game department giving hope to
both shareholders and players alike. It
would make sense that the Marvel online
casino games would continue to grow in
popularity thus ensuring a brighter
future for the software provider.
