RECORD BREAKER
GigaMedia Ltd., the Taiwan online entertainment and software provider, said it has posted a record revenue and profit for 2008.
Revenue was up 25 percent year-over-year at $190.4 million, while net income was reported as $44.4 million, or 14 percent higher than in 2007, the company said on Tuesday.
Despite the record profit, Thomas T. Hui, the company’s president said the company will be executing “aggressive yet appropriate” cost-cutting measures to protect its profitability and value.
DEAL MAKERS
Inspired Gaming Group has penned a deal with William Hill to supply the bookmaker with its Virtual Racing Platform.
This deal marks the second for the open server-based gaming company in less than two months. In February, Inspired signed a deal with Gala Coral Group to rollout its virtual racing product in 2,000 outlets.
Also on Tuesday, Gaming VC Holdings announced a long-term partnership agreement with Boss Media A.B.
During the three-and-a-half year agreement, Boss Media, the I-gaming software provider, will tailor certain products and services specifically for Gaming VC, the I-gaming company said.
While Boss Media already provides Gaming VC’s download casino, poker, BackOffice system and payment services, the new agreement includes an instant casino and games from Dynamite Idea and Finsoft.
COMING SOON
London Hippodrome’s online casino will be unveiled this summer, while construction on the land-based casino isn’t scheduled for completion until early 2011,
according to Property Week.
The historical building, which dates back to 1900, is scheduled to be converted into a casino with plans for slot machines, gaming tables, a poker room, a cabaret bar and a Gordon Ramsay restaurant with construction starting this summer, The Guardian reported in January.
SAVE THE DATE
Clarion Gaming has officially announced the date of the European iGaming Congress, or EiG, as Sept. 15-17, 2009.
The biggest I-gaming event of the year also has a new location -- Copenhagen, Denmark. Last year’s EiG brought a record number of 1,544 industry members to Barcelona, Spain.
In addition to the new spot, Clarion said there will be some changes to the eighth annual event that will be revealed during the next six months.
The events company has created a short survey to gain suggestions on how to shape the conference program as well as to gather speaker nominations. Click here to take the survey.
SPONSORING
Sportingbet has signed on for a two-year, seven-figure sponsorship of the Wolverhampton Wanderers, or Wolves, Football Club.
Starting June 2009, the sponsorship will be the biggest in the Wolves’ 132-year history, according to Sportingbet. Through the deal, the sports betting, casino gaming and poker company said it will become the club’s official betting partner as well as give Sportingbet a major presence at Molineux Stadium.
“We share a common heritage of passion, skill and teamwork,” said Andrew McIver, chief executive of Sportingbet, in a company statement. “I believe that this is the basis of a great partnership. Football is the bedrock of our business, and we look forward to working closely together.”
EXITING
In a Tuesday trading update, WorldSpreads Group said it would be exiting the sports spread betting business after “a difficult trading year,” resulting in a 1.5 million euro write down.
Disregarding the sports division, which has been under review by the company board since late 2008, the financial spread betting firm said it expects to announce a pre-tax profit for the full year to March 31, 2009.
The Irish company said that its results should be in line with market expectations excluding the effect of foreign exchange fluctuations. Preliminary results are expected for the full 2008 year in June 2009.