Revenue Up 428 Percent at Everest PokerOwner GigaMedia Sees Revenues Up 95 Percent to $36.1 Million in First Quarter of 2008 |
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GigaMedia, the Taiwanese-listed owner of Everest Poker, has announced record poker revenues of $19.1 million in the first quarter of 2008, up 428 percent compared to the same period in 2008 and 47 percent on the fourth quarter of 2008.
During the first quarter, 138,000 active real-money players played on the site, up 53 percent on the previous quarter with 68,000 new depositing real-money players added. Poker makes up 73 percent of GigaMedia’s total revenues.
CEO Arthur Wang said, “GigaMedia continued to execute well in the first quarter -- led again by our Everest Poker software, which grew both revenue and player numbers by about 50 percent over Q4. And, in Asia, we have expanded our online entertainment platform to reach over 65 million registered users, with over 8 million active users per month.
“We are especially excited about our upcoming launch this summer of new games and products in Asia, including our suite of real-money Japanese games. We are building an online entertainment platform that will span Asia and offer a top game and other entertainment experience to our players.”
According to the company, the key drivers for poker revenue growth were strong online and offline marketing initiatives by licensees, as well as affiliates promoting Everest Poker and driving new player signups on Everest Poker.
The company has engaged in TV advertising and launched its product in three new languages in the first quarter of 2008.
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