Casinos.co.uk: Casino News Archive
Wednesday 15th August 2007
Online Poker Provider Posts Record Profits
Leading Taiwanese online poker software provider and licensor GigaMedia Ltd has announced that second quarter revenues climbed 88 percent to $40.1 million with operating income increasing 119 per cent to $10.1 million when compared to last year.
The Taipei-based firm said that continued record revenues from its poker software business in continental Europe and growing contributions from its online games business in Asia drove its growth.
'Second quarter was another record for GigaMedia with outstanding performance in every business unit,' said Arthur Wang, Chief Executive Officer for GigaMedia. 'More important, we expect even stronger growth in the second half and excellent momentum into 2008.'
GigaMedia secured majority control of T2CN, a leading online game portal in China and operator of an online sports game, in July by increasing its total equity ownership to 52 percent.
'We are beginning to see the early returns from our investment in our Asian online games platform,' said Arthur Wang, Chief Executive Officer for GigaMedia.
'With an exciting pipeline of new games and a footprint reaching over 64 million registered users, we are very enthusiastic, very confident that we have built the foundation of a powerful business.'
Source:OnlineCasinoNews
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