Gigamedia, based in Taiwan, started operations in the late 1990s as an Internet Service Provider (ISP) over cable TV channels.
Despite an aggressive roll-out, growth faltered after Taiwan's telephone monopoly took advantage of its existing infrastructure and connections to belatedly enter the broadband market, and beat start-ups like Gigamedia.
Gigamedia as a result gradually left the ISP business and sold a division last year.
But, experts said, the company's new profits come from gambling and gaming Web sites, including poker and slot machines, and multi-player online games.
Revenues surged 88 percent year on year to reach $40 million in the second quarter. The company's profits more than doubled to reach $10 million during the quarter.

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"Growth was driven by increases in real money players on Everest Poker," said Gigamedia president Thomas Hui. "Approximately 154,000 active depositing real money customers played Everest Poker during the second quarter, up 254 per cent year on year and 12 per cent sequentially.

About 54,000 new depositing real money players were added during the quarter, he said.
The results compare favorably many of the company's competitors in online poker, said analyst Traci Mangini of ThinkEquity Partners.

European gambling sites account for approximately 75 percent of revenues, and Gigamedia operates online games in Asia, and is expanding its gambling operation in the area.

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