GIGAMEDIA GOING GREAT GUNS
16 March 2007
Profits quadrupled in latest quarterly report
Taiwanese company GigaMedia, which took over the Grand
Virtual turnkey provider in Canada some time ago, has
continued its consistently winning run of results with
the release this week of its quarterly report. Revenue
soared 155 percent higher to $30.1 million and profits
more than quadrupled to $0.17 a share.
The stellar results reflect the benefit of the FunTown
casual gaming portal that GigaMedia acquired early in
2006 and gains from the company's sale of Taiwanese
online game maker Gamania. Even so, the companys
performance exceeded analyst predictions by over a
million.
GigaMedia's vertical poker portal accounted for 43
percent of the company's revenue this past quarter, and
it's growing a lot faster than the rest of the company,
according to an assessment by Motley Fool. With 90 000
cash-depositing accounts - and growing - the company is
reflecting the continued resilience of the online
gambling industry.
The exec team at GigaMedia has a sound track record of
astute wheeling and dealing, acquiring a controlling
interest in China's online sports game leader, T2CN,
back in January. That came a month after investing in
Infocomm and securing the rights to license Hellgate:
London in Taiwan, Hong Kong, and Macau.
In December, the company also cashed in on the
popularity of its FunTown casual gaming portal by
striking a licensing deal with Yahoo! in Taiwan. Like a
good poker player, GigaMedia always seems to keep its
options open.
Online Casino News courtesy of InfoPowa
More news here.
Top of page |
Home |
News |
Forum |
Webcast |
Vortran |
Accredited Casinos |
Evil Ones |
Pitch a Bitch |
Online Gambling Resources |
Poker
|