GigaMedia, owner of Euro-facing Everest Poker, yesterday said there was “no basis” for suggestions it faced the possibility of a near-term revenue hit from a change in Canadian regulation. The company is regulated by the Kahnawake Gaming Commission, a Mohawk reservation based in Canada.
The company said in a statement that it “reaffirmed its view that the regulatory and licensing situation in Canada and the territory of Kahnawake is reliable and stable and the company has no concern over related business interruptions."
The company has been in contact with government officials and believes no change in Canadian regulations are imminent.
The company recently recorded a revenue increase of 190 percent of year-end 2007 to just over $89 million. Everest Poker recently signed a deal with the World Series of Poker to sponsor tables at the event this year.
