BETTER NEWS FROM GAMING VC

6 July 2007

First half trading ahead of expectations

Online gambling group Gaming VC has issued a more promising six month trading prediction that numbers will be ahead of expectations.

The revenue from the casino business has been in-line with projections and the group added it is confident the core German business should deliver 2007 performance ahead of current market expectations.

New registrations for the six months to 30 June 2007 were well up at 53 200 compared to 26 900 for the six month period to 30 June 2006, a 98 percent increase. Unaudited net revenue in the six month period was Euro 22.0 million, 4.3 percent ahead of the same period last year.

The company has renegotiated its software license for German markets with Boss Media and will provide annualised cost savings of over Euro 2 million on current activity levels.

The company expects to have Maltese gaming licence approvals in the third quarter of 2007 and to have concluded the acquisition of an Italian sportsbook and horse racing license before the start of the 2007/8 Italian football season.

Online Casino News courtesy of InfoPowa