PROFITS LIFT-OFF FOR VC GAMING

28 September 2007

German facing online gambling group is coming right....


It's been a tough haul, but switching from direct mail to online marketing has enabled German-focused online casino and poker group Gaming VC lift profits sharply in the first half of the year, the firm has claimed in its latest company reportage.

Profits rose by 28 percent to Euro 8.54 million in the six months to June, with revenues 4 percent higher at Euro 22 million. Pre-share option costs, the profit was 20 percent up at Euro 8.9 million. And trading volumes and margins in the third quarter to date have been in line with the same period in 2006.

The cost savings generated from the renegotiated Boss Media software contract (see previous InfoPowa report) as well the marketing efficiencies from the termination of direct mail for customer recruitment are expected to enhance profitability in the future.

"The new sports book in Italy has seen a positive start with the group now in a position to deliver continued good cash generation from the core German business and profitable growth from other geographic markets in the fourth quarter and beyond," the statement concluded.

Online Casino News courtesy of InfoPowa