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GIGAMEDIA Q.3 NET PROFIT UP 24 PERCENT TO $12 MILL

Gigamedia, the Asian business group that owns online gambling software provider Everest Gaming (formerly Grand Virtual) and the popular Everest Poker website, has posted its third quarter results, showing an increase in net profits of 24 percent to $12 million. 
 
Financial Highlights for Q.3 include:
 
* Consolidated revenues increased 16 percent to $45.7 million from $39.3 million in the same quarter in 2007, but decreased 7 percent from the previous quarter.
 
* GAAP consolidated income from operations decreased 42 percent year-over-year to $5.8 million from $10.0 million 

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in the same quarter in 2007 and decreased 50 percent quarter-over-quarter.
 
* Non-GAAP consolidated income from operations increased 12 percent year-over-year to $10.7 million from $9.6 million in the same quarter in 2007 and decreased 15 percent from the previous quarter.
 
* GAAP consolidated net income grew 24 percent to $12.0 million from $9.7 million in the same quarter in 2007 and increased by 7 percent from the second quarter of 2008.
 
* Non-GAAP consolidated net income increased 22 percent to $10.7 million from $8.8 million in the same quarter in 2007 and decreased 10 percent from the previous quarter.
 
Operational highlights included the final disposal of Gigamedia's last legacy ISP business, completing the transition to the new GigaMedia, an online entertainment and gambling group. The poker software continued to deliver good performance and revenues despite the traditionally quiet quarter, whilst online casino operations produced record revenues. The group's Asian online games platform is nearing completion and will be launched as planned in the fourth quarter of 2008 and the first quarter of 2009.
 
The re-branded Everest Gaming platform added over 40 new cash-wager casino games featuring Marvel's Incredible Hulk, Spider-Man, X-Men and others in collaboration with Cryptologic.
 
"GigaMedia performed well in the third quarter despite the normal summer slowdown and the negative affects of the Olympics on player activity," said President Thomas Hui. "We look forward to continued growth in our core businesses driven by a strong lineup of new games and sponsorships."
 
GigaMedia CEO Arthur Wang commented: "The financial turmoil has created many concerns, many fears. Nevertheless, the fact is we continue to run a high-growth business generating high levels of free cash flow and look to an even better 2009 supported by a strong balance sheet and cash position with no net debt."



Gambling News :

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

Mega Moolah Jackpot Hits on 9/27/2017 - Another millionaire made on Microgaming’s Mega Moolah; 5th largest Microgaming payout

Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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