GigaMedia buys world no. 1 Mahjong site and leading Asian game portal for Online Casino Singapore
GigaMedia Limited (GIGM) entered into a definitive agreement today to acquire FunTown, a leading Asian online casual game portal and operator of the world’s largest online Mahjong game site in terms of revenue.
GigaMedia expects the transaction to be strongly EPS accretive and generate significant increases in revenues and net income beginning in the first quarter of 2006.
On an unaudited, management account basis, FunTown is expected to generate approximately $5.1 million in net income in 2005. Looking ahead, GigaMedia anticipates 20 percent to 30 percent growth in FunTown’s business in 2006.
in April 2004, GigaMedia acquired Cambridge-based Grand Virtual, a privately held software developer and application service provider in an all-cash transaction valued at approximately $32.5 million. Grand Virtual Casino does not accept bets from players in the United States.
Online Casino “Watchdogs” Sometimes Have Conflicts
The boom in online gambling — along with concerns about sending money to Internet casinos that operate out of loosely regulated locales like Aruba, Costa Rica and Belize – has spawned a cottage industry: Web sites that purport to tell gamblers which operations they can trust, and which have reputations for cheating players.
These self-styled watchdogs publish reviews of online sportsbooks and poker sites, and maintain lists of recommended casinos. But gamblers may not realize that several of the watchdog sites have conflicts of interest. Many take advertisements from gambling operations, and some are paid commissions for driving traffic to casinos. One site, MajorWager.com, owns one of the sportsbooks it recommends.
The upshot: Online Casino Singapore operators sometimes get sparkling grades on watchdog sites where they have advertising or business relationships, while receiving poor marks where they don’t. David Kesmodel at Wall Street Journal
Our Full Disclosure: Online Gambling News accepts advertisements from online gambling operators based on monthly advertising fee or commission from profit. OGN reviews highlight the positive aspects of online gambling operators for easy comparison by casual online gambling consumers. OGN only works with established operators.
OddJack.com Acquisition Announced
Traffic.Media announced the acquisition of OddJack.com, the Gambling Guide from the Gawker Media blogging network of influential blogger Nick Denton. The sale includes the Oddjack.com domain name and all web site assets such as story archives, logos and trade marks.
OddJack, the Gambling Guide is one of the most recognized gambling blogs. Launched in July 2005, OddJack immediately catalpulted the online gambling industry to the blogosphere thanks to the influence of Gawker Media and the witty craftsmanship of editor A.J. Daulerio.
As the first gambling blog to be part of the mainstream blogosphere, powered by Nick Denton’s Gawker Media (Defamer, Sploid, Wonkette, Gizmodo), OddJack carved a spot for online gambling that other blogging networks soon followed with their own gambling blogs.
According to Traffic.Media sources, OddJack is a good fit to their interactive marketing strategy. They see OddJack as a blog linked to by mainstream blogging community including the Gawker web sites. Oddjack will be a platform for relevant, in-depth and engaging content for audiences that will never directly visit an online gambling web site or directly search for online gambling material. Traffic.Media expects its online gambling industry clients to reap immediate benefits from the visitors brought in by and through Oddjack.
Trapik.Media is an interactive marketing firm servicing vertical markets such as the online gambling industry. Traffic.Media specializes on development of compelling content and intelligent distribution to the target audience.
Traffic.Media also acquired WagerTalk, the Sports Betting Forum in August of 2005, height of NFL Football pre-season games. WagerTalk is one of the original community message boards that concentrated on sports betting. The WagerTalk acquisition is reportedly poised to pay off with the traffic from Superbowl XL in Detroiton February 2006.