Business is good: Cryptologic recently signed deals with Playboy Enterprises as well as the government of the Netherlands to help them develop casino and poker sites. "We pride ourselves on being a legitimate player," said Taylor.
Indeed, Cryptologic just reported its strongest fiscal year ever, with revenue up 21% over 2006. Future growth rates look robust, says Taylor, who says he expects online poker to grow at a 20% compound rate over the next 20 years, and casino operations at 12%.
"As broadband and e-wallet solutions become more available and acceptable, we believe we can meet or exceed those numbers. We are very bullish on the industry," says Taylor, who points out that only 5% of revenue for the total global gambling market come from online activities. "We think there's an awful lot of room for growth even without the U.S. market," he added.
But those organizations still hoping that online gambling will eventually be legal in the United States aren't going away without a fight. The European Union is challenging the UIGEA through the World Trade Organization, charging that the United States has banned Internet gambling in a blatant attempt to protect domestic gambling revenues. Calling it protectionism and saying it's clearly against WTO regulations, the WTO brought suit against the United States on behalf of the Caribbean countries of Antigua and Barbuda.
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 Five of the nine players at an online poker table at Doylesroom.com have opted to sit out this particular hand. |
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