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Gigamedia Looking at Social Gambling

Thursday June 27,2013 : GIGAMEDIA EXPLORING SOCIAL GAMBLING POSSIBILITIES
 
Taiwan-based company has online gambling experience and has developed a suite of games
 
Online gambling corporate GigaMedia Limited has announced that it is to enter the social casino games market following a closed beta test on a suite of new game titles in over 200 Internet cafes across Taiwan.
 
The company has unveiled a new portfolio of proprietary social casino games that include slot, poker and dice offerings and could begin commercial operation in as little as four weeks.
 
“Initial social features in the game suite include gifting of virtual items to friends and a new group chatting function,” the company said in a statement this week.
 
“Results of the new casino products initiative in Taiwan's Internet cafes will be used to support development and launch of additional social casino offerings across multiple platforms near the end of 2013.”
 
“Social casino games are one of the fastest growing and most profitable segments of online games,” said Collin Hwang, chief executive officer for GigaMedia.
 
“With social casino games generating average revenues per unit nearly double those of other social games, increased sector focus will play a key role in driving growth of our FunTown online game operations in 2013 and beyond.”
 
Hwang said that his company’s mobile offerings are set to additionally leverage the growing usage over social network sites and devices including smartphones and tablet computers.
 
“We plan to leverage our expertise as a developer and operator of PC-based Asian casino games to create new offerings for mobile and tablet devices, building a strong multi-platform offering,” he said.
 
“We are also reviewing potential strategic partnerships and acquisitions that would enable us to accelerate our growth in social casino games.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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