NEW VC GAMING CHIEF

9 February 2007

And new registrations are up, too

It appears that European-facing gambling group Gaming VC has successfully weathered the sudden departure last year of its CEO with the announcement this week of Kenny Alexander (37) as the new chief.

Alexander will take up the position soon, and was formerly managing director of European operations at Sportingbet since 2002.

Coinciding with the appointment comes news that Gaming VC’s new registrations are up 91 percent, from 14 996 in Q4 2005, to 28 704 in Q4 2006.

Alexander will take up his chief executive responsibilities with effect from March 1.

Fourth-quarter revenue rose 1 percent over last year to Euro 9.8 million. Full-year daily revenue did not reflect any year-on-year change, but fourth-quarter daily revenue of Euro 107 000 reflected an increase of 5 percent over the previous quarter and 1 percent over a year earlier.

Non-executive chairman Adrian Smith said: "We are satisfied with the results for Q4 despite a lower than expected casino revenue in December 2006 which was then corrected in January's trading. We are particularly pleased with the continued strong growth of our poker business during Q4."

New CEO Alexander was, most recently, managing director of Sportingbet PLC's European operations where, "under his leadership the business became one of the most profitable gaming operations in Europe," added Smith. "Bringing in an experienced gaming executive was an important element of the changes we committed to in November. We continue to see the benefits from effective marketing initiatives in both poker and casino as well as on-going improvement in operating cost reductions," he said

Established in 2004, Gaming VC Corp BV is an operating and acquisitions company originally incorporated in Luxembourg to acquire the business and operating assets of Casinos International NV, collectively known as The Casino Club, the dominant online casino in German-speaking markets. Larger than William Hill, Sportingbet and Bet 365 from a single market position, The Casino Club and Casino Club Poker boasts well over 58 000 active customers and more than 100 000 registered users. The associated Casino-Club magazine is popular among roulette enthusiasts and currently has a circulation of over 100 000.

Online Casino News courtesy of InfoPowa

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