Gaming News

GigaMedia responds to Canadian regulatory position

HONG KONG -- (PRESS RELEASE) -- GigaMedia Limited ("GigaMedia" or the "Company") (Nasdaq: GIGM) today reaffirmed its view that the regulatory and licensing situation in Canada and the territory of Kahnawake is reliable and stable and that the Company has no concern over related business interruptions.

On the basis of communications with Canadian counsel and government officials, the Company believes no change in the current licensing system is contemplated. Moreover, in accordance with best practices, GigaMedia maintains disaster recovery and alternate hosting arrangements.

A financial website yesterday suggested GigaMedia faces the possibility of a near-term revenue hit from a change in Canadian regulations, a statement for which the Company finds no basis.

GigaMedia's poker and casino software products continue to deliver strong growth in 2008, driven by Everest Poker, one of the world's most popular poker sites and the sponsor of the World Series of Poker.

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