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TheStreet.com reports that persistent rumours of an acquisition deal being negotiated between PartyGaming and Gigamedia have heightened interest in the appointment of a new chairman at the Taiwan online gambling group, which owns the popular Everest Poker website and Funtown, the Internet's largest Mahjong site.
Gigamedia this week appointed board member Michael Ding as chairman following the resignation of former chair Daniel Wu on April 30 2009, citing "personal and family obligations" as his reasons for leaving.
GigaMedia's market cap stands a little over $330 million, TheStreet reports. GigaMedia recently dampened expectations in its first quarter outlook, with revenues expected to fall by 10 percent in its gaming software segment. However, the Asian-facing group also expects its Asian online gaming business to grow around 30 percent compared to the fourth quarter 2008.
Cryptologic 14 top games to be provided to Loto-Quebec -
02/08/2012 : The companies have signed a multi-year agreement that will see Cryptologic providing a portfolio of quality games to the Societe du jeu virtuel du Quebec, the online gaming division of the provincial state lottery corporation Loto-Quebec, known as Espacejeux.
Utah : Online Gambling : HB108 -
02/08/2012 : An intrastate attempt by Utah politician Stephen Sandstrom to introduce state legislation banning any legalisation of internet gambling has failed at the start gate.
MORE U.S. DISCUSSION ON INTERNET GAMBLING DUE THIS WEEK -
02/08/2012 : Interest in online gambling in the United States is set to continue on Thursday this week when the US Senate Committee on Indian Affairs meets to hear the views of a wide cross section of interested parties on the possible impact of legalised internet gambling on tribal gaming.
Judge wont dismiss DoJ Black Friday charges -
02/08/2012 : Former Utah banker John Campos and e-processor Chad Elie, who face charges relating to the payment processing of online poker transactions, suffered a setback Tuesday when a Manhattan judge refused to allow their motion for dismissal of Black Friday indictments against them.
ANOTHER MAJOR INTERNET GAMBLING BUST IN MALAYSIA -
02/08/2012 : Police units in Malaysia raided a series of premises in a week long anti-online gambling operation, seizing 225 computers and detaining 47 men, according to reports from the Bernama news agency. All of the detained men were later released on bail.
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