Core Viewpoint - IGS, a Taiwanese game developer, has successfully transitioned from traditional arcade games to the lucrative gambling game market, achieving significant revenue growth despite its previous decline in the gaming industry [8][50][58]. Group 1: Company Background - IGS, established in 1989, was once a prominent player in the arcade game market, known for titles like "Journey to the West" and "Three Kingdoms" [2][12]. - The company created a high-performance arcade board, Poly Game Master (PGM), which supported the development of popular games that became staples in East Asian arcades [12][14]. - Despite its early success, IGS struggled in the 2000s with declining revenues from traditional gaming, leading to a shift in focus [16][38]. Group 2: Transition to Gambling Games - IGS began to pivot towards gambling games around 2005, launching its own fishing game, "Ocean King," which became a commercial success [26][29]. - The fishing game genre, often seen as a gambling machine, gained popularity in underground arcades, allowing IGS to tap into a lucrative market [21][22][28]. - By 2020, IGS's annual revenue surpassed 8.4 billion New Taiwan Dollars (approximately 2 billion RMB), with a significant portion coming from gambling games [47]. Group 3: Recent Developments and Future Outlook - In 2023, IGS obtained licenses from Malta and Greece for its gambling operations, expanding its reach in the global gambling market [49][52]. - The company is projected to achieve a total revenue of 25 billion New Taiwan Dollars (approximately 6 billion RMB) this year, driven by its licensing and gambling game offerings [52]. - IGS's strategic shift has positioned it to potentially dominate the global gambling game market, leveraging its established IPs and innovative game designs [54][58].