BUSINESS

WMS acquires Jadestone; GigaMedia narrows loss; Amaya releases latest slot

TAGs: Amaya Gaming, GigaMedia, jadestone group, Sweden, wms industries

wms gigamedia amayaWMS Gaming has announced the acquisition of Swedish developer Jadestone Group. The move strengthens their place in the online gaming industry ahead of any future U.S. regulation and it makes them stronger in the global B2B market. Terms of the deal have so far not been disclosed and Orrin J. Edidin, President of WMS, commented: “With a proven management team and a decade of experience in development and platform integration for online gaming industry leaders, Jadestone brings a complementary mix of expertise and technology solutions to WMS. Jadestone’s online expertise accelerates our efforts to develop a comprehensive suite of interactive products, managed services and content distribution capabilities.”

Asian online gaming and software supplier GigaMedia narrowed its loss in the first quarter even as both revenues and profits saw significant drops. The company loss was $2.3 million in Q1 2012, which represented a drop of 55 percent compared with last year. This was a bright spot as revenue decreased 19 percent to $8.4 million and the total gross profit decreased from $5.7 million to $4.4 million – down 23 percent on the year before.

Amaya Gaming Group has announced the release of a new online slot. Aladdin’s Legacy is the firm’s newest 3D slot and is a 20-line slot with a number of interactive features. It becomes the company’s seventh release of the year and Alain Brosseau, Director of Product Strategy, stated: “Our exclusive content contains unique features that cannot be found anywhere in the industry and are proven top-performers and revenue generators for our clients. With the addition of CryptoLogic content into the mix, this is just the beginning for our next generation of online slot games.”

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