The provider of secure software solutions, which has recently been chosen to power NYRA’s online wagering platform, has been approved to do business in Nevada. “We look forward to submitting our products to the Nevada Gaming Commission and working with the various gaming venues throughout Nevada,” said Shawn Kreloff, CEO of Sona Mobile.
In other news, Jake Kalpakian, President and CEO of Las Vegas From Home said the first quarter of 2007 was an encouraging one for the company that following the online gambling ban in the Unites States had to re-focus its strategic efforts on developing a multi player gaming platform targeted at the Asian market. “With over $8 million in cash in the bank, we are well situated as we look ahead to the rest of 2007,” commented Kalpakian.
Elsewhere, Gigamedia reported a 95 per cent increase to $36.1 million in first quarter revenues compared to the same period in 2006, while net income climbed 167 per cent year-over-year to $8.5 million. Driving the strong performance was record revenue growth at the company’s poker software business, whose revenues were up 428 per cent to $19.1 million from the same year-ago period and up 47 percent from the previous quarter. “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% over Q4,” said GigaMedia CEO Arthur Wang.
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