GigaMedia have reported a strong increase in revenues in the third quarter and have stated they will be launching an Everest branded sports betting product by the end of this year. GigaMedia saw a 16% increase in the third quarter that resulted in $45.7 million US dollars and saw an 18% year on year growth.

Thomas Hui, the President of GigaMedia, stated: “GigaMedia performed well in the third quarter despite the normal summer slowdown and the negative effects of the Olympics on player activity. We look forward to continued growth in our core businesses driven by a strong lineup of new games and sponsorships.”

Arthur Wang, the Chief Executive Officer for GigaMedia, stated that the launch of the Everest branded sports betting product would happen before the end of this year. Mr. Wang stated that this would be one of the most significant product expansions the company has undertaken since the launch of Everest Poker.

Wang stated: “The sports betting product will be launched in partnership with one of the leading brand sin the business. A partnership which will enable us to have the best of sports offerings from the start, as well as other potential corporations in the future. We believe we will see improved per player revenues driving even greater growth in 2009.”




- 2008-11-19