GigaMedia report revenues ahead of social casino entry

Media have announced “better than expected” preliminary revenues for Q2 2013, while also revealing their intention to enter the Asian mobile social casino games market.

The developers recorded second quarter revenue of approximately $3.7m, as well as “better than forecast” net income of approximately $84,000.

The firm have also created a new set of casino games in an effort to leverage the booming social games market in Asia.

The Taiwanese company, founded in 1999, believe their new plans will play a “key role in driving growth to our Fun Town online game operations in 2013 and beyond”.

Fun Town are a subsidiary of GigaMedia, working in the casual games market with experience of creating PC-based casino games.

GigaMedia CEO Collin Hwang said: “Social casino games are one of the fastest growing and most profitable segments of online games.

“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.

“We are also reviewing potential strategic partnerships and acquisitions that would enable us to accelerate our growth in social casino games.

“In sum, we are targeting the highest-spending social gamers in the world's largest mobile games market – Asia.

“We see great growth prospects for our online games business in social casino games and are moving forward quickly.”

Bruce Archer