Annual General Meeting 17 th May 2010 - PowerPoint PPT Presentation

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Annual General Meeting 17 th May 2010 PowerPoint Presentation
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Annual General Meeting 17 th May 2010

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  1. Annual General Meeting 17th May 2010

  2. 2009 Review • Executed change strategy in difficult times to focus on: • Hosted casino • Branded games • Innovation • Game development • Major reduction in cost base and headcount • Developed new revenue stream with branded games licensing • Preserved leading position as developer of gaming content for fifth consecutive year • Now positioned to translate structural change into improved financial results 2

  3. Rebuilding Revenues • New strategy leverages core strength in casino • Hosting • Branded games licensing • Increased licensee base to over 30 • Hosted casino stabilising as industry conditions improve and impact of a customer loss recedes • Won 2 new hosted licensees in 2009 –with Betsafe to launch in the near future • Established branded games licensing as new revenue stream • Branded games revenue up over 800% to $2.8m • Number of licensed games launched increased to 66 from 3 3

  4. Our customers are leading brands 4

  5. Investing for the future • Launched CryptoLogic Centre of Innovation • Reduced time to market; strengthened games portfolio • Jenga • Two new football games to launch in time for World Cup • Deploying suite of 3D games • Signed licensing deals with DC Comics/Warner and Paramount to develop more global games based on popular characters • 47 new games added to product portfolio • Won industry award for best casino games for fifth consecutive year • Invested in enhanced gaming platform and virtual casino lobby 5

  6. Strategy for growth • Drive revenue in hosted casino • Rebrand and relaunch of virtual lobby complete • Strengthened operational management • Major advertising and marketing by key licensee underway • Betsafe to launch casino in the near future • Ramp-up branded games revenues • 108 games rolled out by licensee now generating revenue • 92 in backlog Customer categories are determined by average revenue per game 6

  7. Financial SummaryProfit & Loss • Declining revenues have been the concern • Revenues down from $61.5m to $39.8m • Long lead time to find and ramp up new licensees is now translating into revenues • Recurring costs are also down significantly - $20.6m • Revenue to be rebuilt, with continued focus on cost reduction 7

  8. Uses of cash & Balance Sheet • Cash management remains a priority for 2010 • Impairments and restructuring of $24.8m 8

  9. 2010 Outlook • Revenue outlook to improve gradually, driven by recent improvement in wagering activity and new licensees • Q2 revenue to date is ahead of the same period in the previous quarter • Branded games expected to gain momentum as more games come on stream • Number of new branded games launched by licensees to date currently at 108, with a backlog of 92 games   • CryptoLogic’s full Internet casino hosting suite for Betsafe.com to go live in the near future   • Continuing focus on costs 9

  10. Future of gaming • Online gaming set to grow long term • Gaming industry evolving to become part of entertainment experience • P2P and development of gaming communities • Mobile • 3D games 10