PRESS RELEASE
Appointment of Chief Executive / KPI Update
02 February 2007
KPI Update
Gaming VC, a leading European online casino and poker provider, is pleased to announce the appointment of Kenneth (Kenny) Jack Alexander as Chief Executive of the Company with effect from 1 March 2007. Kenny Alexander will join Gaming VC from Sportingbet plc where he was most recently Managing Director of Europeanoperations.
Kenny Alexander, aged 37, is a member of the Institute of Chartered Accountants of Scotland. He started his career as an accountant at Grant Thornton and joined Sportingbet in February 2000 where he held the position of Finance Director for European operations.
In April 2002, Kenny was appointed Managing Director of Sportingbet's European Operations. In this position, Kenny was directly responsible for 150 employees from 16 countries overseeing trading, marketing, finance, IT, product development and customer service. In addition he had overall responsibility for all of Sportingbet's sports book and gaming sites in Europe. Kenny was instrumental in developing Sportingbet's operations in new European markets including Turkey, Spain, Greece, Germany, France and Italy and driving cross-selling initiatives in these markets. Under Kenny's leadership, the business became one of the most profitable gaming operations in Europe.
Commenting on the appointment, Adrian Smith, non-executive Chairman of Gaming VC, said: "We are very pleased that Kenny Alexander will be leading our business and joining the Board of Gaming VC. 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. We look forward to Kenny's input into the future direction of Gaming VC."
Commenting on his appointment, Kenny Alexander said: "I am delighted to join the Company at this exciting time and look forward to driving the business forward in the next stage of its development. Gaming VC has great potential and the aim is to take advantage and maximise the opportunities which exists in the European gaming sector."
There are no further disclosures to be made regarding this appointment under Schedule 2 paragraph (g) of the AIM rules.
KPI Update
New registrations in Q4 2006 were 28,704 compared to 14,996 in Q4 2005, a 91% increase. 10,672 new depositing customers were recorded in the quarter compared to 7,452 in 2005, a 43% increase. Revenue in the quarter was €9.8 million, up 1% on the previous year.
Group - Daily Revenue Q4 2006
| '000 | Q4 2006 | Q3 2006 | % change versus Q3 | Q4 2005 | % change versus Q4 |
| 2006 | 2005 | ||||
| Daily revenue | 107 | 102 | 5% | 106 | 1% |
Group - Daily Revenue FY 2006
| '000 | FY 2006 | FY 2005 | % change versus FY 2005 |
| Daily revenue | 110 | 110 | - |
Casino - Key Performance Indicators Q4 2006
| Q4 2006 | Q3 2006 | % change versus Q3 | Q4 2005 | % change versus | |
| 2006 | Q4 2005 | ||||
| Daily revenue | €99,000 | €96,000 | 3% | €106,000 | (7%) |
| New registrations | 167 | 114 | 46% | 122 | 37% |
| per day | |||||
| New players per day | 61 | 50 | 22% | 57 | 7% |
Casino - Key Performance Indicators FY 2006
| FY 2006 | FY 2005 | % change versus FY | |
| 2005 | |||
| Daily revenue | €105,000 | €110,000 | (5%) |
| New registrations per day | 145 | 89 | 63% |
| New players per day | 63 | 49 | 29% |
Poker- Key Performance Indicators Q4 2006 *
| Q4 2006 | Q3 2006 | % change versus | Q4 2005 | % change versus | |
| Q3 2006 | Q4 2005 | ||||
| Daily revenue | €7,600 | €5,600 | 36% | €2,300 | 230% |
| New registrations | 112 | 68 | 65% | 41 | 173% |
| per day | |||||
| New players per day | 55 | 44 | 25% | 24 | 129% |
* There are no comparative figures for FY 2005 as Poker was launched in Q4 2005.
Commenting on the Q4 KPIs, Adrian Smith, non-executive Chairman of Gaming VC, 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."
For further information:
Gaming VC Holdings S.A. |
|
Adrian Smith, Non-Executive Chairman |
Tel: +44 (0) 20 7398 7700 |
| investors@gamingvc.com | |
Media enquiries: |
|
Abchurch |
|
Chris Lane / Franziska Boehnke |
Tel: +44 (0) 20 7398 7700 |
Notes to editors
Gaming VC is a key operator in the European online gaming sector, specializing in casino.
Gaming VC has no online operations in the US and does not transact any wagering activity on behalf of players in the United States.