Is InterCasino & InterPoker going bust?

[jetset]

@ gavinP - I'm pretty sure your winnings are safe - Cryptologic has always been an straight company in my experience, and I doubt that that is about to change.

I think this is going to be another industry consolidation with Cryptologic and its subsidiaries either merged or acquired - obviously a lot will depend on the asking price.

They still have cash and equivalents of $10.6 million despite that biting loss over last year of $20.4 million, and by firing 47 percent of their staff and drastically pruning other costs they have significantly reduced operational costs, so the losses should be further reduced this year.

I would be concerned over the dispute they are facing, and whether their unfortunate situation will persuade other licensees to bail on them, preferring to control the process rather than react to it.

[threescatters]

To the OP, please keep us informed about your withdrawl request although I am sure knowing crypto it will be processed today, they always seem to send cashouts the very next day (except weekends). It is sad to see a once giant of the industry like this but they are not the only ones, the whole gambling industry is on its knees these days. I think they still have the crypto poker software as its not in use anymore, they could sell that for some funds surely? You can trace the beginning of the decline of crypto poker back to when betfair left their poker network to set up on their own. For the casino it had to be removal of USA players from intercasino.com that hurt them the most. William Hill dropped them a couple of years ago as well which was sad to see. Yes their slots are bad but overall they are a great casino, I have had many ups and downs there and its always been fun with absolutely NO worrys about getting paid or not when that rare big win comes around. I hope they pull through this.

[baldidiot]

I think they still have the crypto poker software as its not in use anymore, they could sell that for some funds surely?

Would you want to buy a failed poker network?

[threescatters]

Would you want to buy a failed poker network?

The software was very good. Up to you if you can get the players to make it work.

[rainmaker]

Cryptologic was on the "Nasdaq Biggest Percentage Decliners"-list today (Wall Street Journal). Up and down again

http://online.wsj.com/mdc/public/pag...mod=mdc_leader

I would also like to agree with Jetset. This is not about going bust.

[baldidiot]

The software was very good. Up to you if you can get the players to make it work.

I liked it, for the most part anyway. But it's not exactly a selling point for the software!

[pokeraddict]

The software was very good. Up to you if you can get the players to make it work.

Crypto's poker software was terrible IMO. I got to where I wouldn't even bother hitting all of the monthly bonuses on all of the skins because it sucked so bad.

[threescatters]

Crypto's poker software was terrible IMO. I got to where I wouldn't even bother hitting all of the monthly bonuses on all of the skins because it sucked so bad.

This is a matter of personal preferance of course so we will just have to agree to disagree, but the crypto software was great for poker. OFC it was no pokerstars/full tilt but just look at the diabolical buggy interfaces offered by boss media, ongame etc these days and compare it to the good working crypto software. Boss media cannot even get the blinds correct HU in a cash game when there is a player sat out. Ongame doesnt even have waiting lists ffs. Crypto was solid, clear, and worked well for every player from recreational to multitabling pro.

[topboss]

I can't comment on the poker software as I haven't used it, but I am a regular player at their casino. I am not crazy about their games, but do tend to find the odd ones that pay out regularly like their Forest Gump and Braveheart.
The main thing that keeps me playing is their quick payouts - always seems to be by the following day.
I would actually be quite sad to see them go..if they go...

[DiamondGeezer]

Intercasino is a very well run casino with an excellent player base I'm sure so they would be of interest to many gaming companies I'm sure.

There are two good businesses the casino and the crypto software brand but it looks like they need to find new partners to propel them forward.