Nambling Notes - May 13, 2008

888 Holdings, the online operator, has inked a games licensing agreement -- its third announced this month -- with Electracade Ltd., the U.K.-based software developer. Under the agreement, 888 will gain access to a portfolio of 100 games, with the initial launch to include a suite of 25 -- Top Trumps, single- and multi-line slots and keno among them.

"As part of the continued execution of our strategy to select 'best-of-breed' partners to provide us with additional games I am delighted that this agreement enables us to access Electracade's soft and instant games portfolio, which is complementary to our existing internally developed gaming portfolio," said Gigi Levy, the company's chief executive.

Probability, the mobile gambling operator, has entered into a three-year deal to license three classic movies for game development from Paramount Picture's mobile arm, Paramount Mobile Entertainment. Under the agreement, Probability will develop and market movie-branded slots based upon "Grease," "The Italian Job," and "King Creole," with the first games scheduled to go live by the end of the second quarter.

GigaMedia Ltd., the online operator and software developer, has revealed a first-quarter net profit of $12.1 million, up 42 percent against $8.5 million the previous-year quarter, with earnings-per-share up 40 percent to 21 cents. Sales rose 51 percent to $54.6 million from $36.1 million, including a rise in gaming software and service revenues to $38.3 million from $26.3 million.

Chief Operating Officer Thomas T. Hui said the Nasdaq-listed company showed strongest growth in licensing its casino and poker software. Online game and service sales rose to $12.9 million from $5.5 million, as the company's FunTown casual games operation saw growth in Taiwan and Hong Kong.

On the London Stock Exchange Tuesday, 888 was up 0.75p, or 0.5 percent, to 158.50, Probability was down 1.50p, or 2.5 percent, to 59.50, while on the Nasdaq, GigaMedia was up $1.79, or 10.25 percent, to $19.26.