After being left out in the cold by William Hill Online earlier this year, heads have rolled at Cryptologic following a further decrease in revenue streams at the company. CEO Brain Hadfield resigned following the second quarter results, continued losses and failure to restructure the business. The firms posted a net loss of $12.7million, compared with $3.2million in the previous quarter. Chairman David Gavagan steps in as the interim CEO as they search for a new one, while Hadfield retires to write his memoirs, “Brian Hadfield and the ultimate Cryptic Crossword.” Read more.
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