GigaMedia Takes Crypto's Full Flash Casino

5 November 2008

CryptoLogic Ltd. has done a deal to supply GigaMedia Ltd. with a full instant-play casino to compliment the Taiwan company's downloadable-play offering.

"I think it's important that you offer both, because it's a different kind of person that plays download casino as opposed to instant-play casino," Justin Thouin, CryptoLogic's vice president of product management and business development, told IGamingNews by telephone Wednesday.

Mr. Thouin said poker players -- from whom the majority of GigaMedia's income derives -- prefer instant-play to download. First-time players also like instant-play, he said, as do those who wish to circumvent workplace firewalls.

GigaMedia's downloadable casino runs on software by Grand Virtual Inc., a privately held entertainment software developer the company acquired in 2004 for $32.5 million.

GigaMedia is currently integrating into its entire online gambling suite a one-wallet platform, scheduled for roll out in the fourth quarter. Mr. Thouin said CryptoLogic was not providing that platform but would be working to integrate its product with GigaMedia's new depositing solution.

CryptoLogic's London shares rose 26 percent on news of the deal, but Mr. Thouin said the company is likely to see a significant share-price bump once revenue from its latest series of deals with PartyGaming, 888 Holdings, Kurastica and others begins to show on income statements.

Mr. Thouin declined comment on whether GigaMedia is the company's potential poker liquidity-sharing partner. That deal, he said, is expected to be completed "sooner than later."

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