GigaMedia says report on revenue hit baseless

March 25 (Reuters) - GigaMedia Ltd (GIGM.O: Quote, Profile, Research) said there was no basis to suggestions by a financial Web site that the Taiwan-based online gaming software firm faces the possibility of a near-term revenue hit from a change in Canadian regulations.

The company does not expect a change in the current Canadian licensing system. 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," GigaMedia said in a statement.

The company did not mention the name of the financial Web site in its statement. (Reporting by Sreerupa Mitra in Bangalore; Editing by Pratish Narayanan)