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GigaMedia (GIGM) bullish on online gaming; seeing success from poker (4Q04 conf call)

Jun. 08, 2005 6:15 PM ETGigaMedia Limited (GIGM)
Ezra Marbach profile picture
Ezra Marbach
34 Followers

GigaMedia (ticker: GIGM), a Taiwan-based provider of broadband and entertainment services reported Q4 and FY 2004 earnings results today. Here are key quotes attributed to CEO Arthur Wang and CFO Thomas Hui from the company's earnings results conference call:

....we are very encouraged about our online entertainment subsidiary, Cambridge Entertainment Software, or CES. In the past year, CES has invested heavily in new gaming products, including both new variations of our traditional gaming offerings, as well as new product lines, such as multiparty poker, under the brand Everest Poker. I think most of you are familiar with the amazing success of online poker in North America. Our strategy is to become a first mover and market leader in Europe and Asia.

....we are happy to announce that Everest Poker is now available in native language offerings in 16 languages. While we're not releasing numbers at this time, we are very encouraged by the numbers growth, which has exceeded our internal forecast....(and we are) strongly focused on further penetrating the online gaming market through organic growth and....acquisition....

....we believe that the online gaming industry continues to offer significant growth potential. Our entertainment software unit is well-positioned to capitalize on the rapid growth of this market. Our online casino game software is one of the only end-to-end solutions that offers localization in up to 16 languages, and our poker product remains the only poker software available in up to 11 languages.

(Quotes are from the CCBN StreetEvents transcript.)

This article was written by

Ezra Marbach profile picture
34 Followers
Ezra Marbach is a former investment banker who lived in Beijing in 2002-03 where he studied Mandarin Chinese and worked for a venture capitalist. Ezra previously worked for Internet-based venture capital firm UniversityAngels.com. Prior to that, he worked in the corporate finance department of Gerard Klauer Mattison, a NY-based boutique investment bank. Ezra graduated from Cornell University.

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