GAMING VC TURNS IN HALF YEAR RESULTS

18 July 2008

Online casino business helps group to meet directors' expectations


Gaming VC Holdings, the online gambling group that operates Casino Club, Poker Kings, Casino Club Poker, Betaland and Wizbingo, has announced that over the first six months of the 2008 financial year, trading has been slightly ahead of the Board's expectations due to resilience in the German casino business.

The total revenues are 15 percent ahead of the same period in the previous year and 13 percent more funded accounts have been recruited. Compared to the second half of 2007, revenue is 23 percent higher and there have been 5 percent more funded accounts recruited.

The group confirms that it remains in discussions with a third party which may or may not lead to an offer for the entire issued and to be issued share capital of the company (see previous InfoPowa reports). A further announcement will be made in due course if appropriate.

Commenting on the H1 KPIs, Kenneth Alexander, Chief Executive Officer said: "The results of the first half demonstrate the continued growth of the business. This is despite the expected adverse effects of Euro 2008 on the Casino and Poker business. I am delighted with the initial performance of our customer service centre, which we expect to have a positive impact on the Group's results in the second half of the year. I am confident that growth will continue as we diversify our services and expand our reach into new international territories."

Online Casino News courtesy of InfoPowa