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Online Casino Merger Planned?

GigaMedia is making headlines this month as the online casino gambling group seeks a way out of the current challenging and stressful market. GigaMedia is still in a farily strong position in the European online casino gambling market, but because of some financial stressors and a very competitive market, Giga is currently entertaining merger and acquisition talks with other internet gambling companies. The past year has been pretty rough on companies in every industry and every sector of the global market. Largely, internet casinos were spared some of the hardships because gamblers continued to pour money into the gambling sites. Giga though has met some insurmountable obstacles and feels like a well-chosen merger agreement, or possibly acquisition, is the best route to preserve the company’s brand strength and product integrity.

GigaMedia is listed in the US but operates out of Taiwan for the international online casino gambling industry. The company’s signature product is the Everest Gaming brand. Everest Gaming is a popular and growing online casino that has experienced some solid growth over the past year. Giga released a public statement to the industry to elaborate on the rumors that were circling about possible mergers. The statement notes that the company is already in talks with several companies that are interested in purchasing the GigaMedia holdings.

Additionally, the online casino gambling group is not going into the discussions unprepared; the company announced that a new financial advisor was hired expressly to assist Giga with negotiating a sale or acquisition agreement with other industry companies.