PRESS RELEASE
KPI Update
11 July 2008
Gaming VC Holdings S.A. (AIM: GVC), a leading European online gaming company, is pleased to give the following update on Key Performance Indicators for the six months to 30 June 2008 ("H1").
During 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% ahead of the same period in the previous year and 13% more funded accounts have been recruited. Compared to the second half of 2007, revenue is 23% higher and there have been 5% more funded accounts recruited.
| H1 08 | H2 07 | % change versus H2 07 | H1 07 | % change versus H1 07 | ||
| Daily Revenue | ||||||
| Casino | €108k | €97k | 12% | €115k | (6%) | |
| Poker | €15k | €10k | 46% | €8k | 78% | |
| Sportsbook | €19k | €9k | 117% | - | - | |
| Total | €142k | €116k | 23% | €123k | 15% | |
| New fundedcustomers | 134 | 128 | 5% | 119 | 13% | |
Further to the announcement made on 17 April 2008, the Group 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 Group. A further announcement will be made in due course if appropriate.
Commenting on the H1 KPIs, Kenneth Alexander, Chief Executive Officer, of Gaming VC, 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. "
For further information:
| Gaming VC Holdings S.A. | |
| Kenneth Alexander, Chief Executive Officer | Tel: +44 (0) 20 7398 7700 |
| www.gamingvc.com | |
Arbuthnot Securities Limited |
Tel: +44 (0) 20 7012 2000 |
| James Steel / Paul Vanstone, Corporate Finance | www.arbuthnotsecurities.co.uk |
Media enquiries:
| Abchurch | |
| Chris Lane / Stephanie Cuthbert / Nick Probert | Tel: +44 (0) 20 7398 7718 |
| stephanie.cuthbert@abchurch-group.com | www.abchurch-group.com |
Notes to editors
Gaming VC is a leading European online gaming company. The Group is headquartered in Luxemburg and is licensed in Malta, Italy and the Netherlands Antilles.
Gaming VC's management team has a wealth of experience in the gaming industry and has a significant track record in successfully identifying and penetrating new markets. The Group is focused on delivering an innovative product offering and is dedicated to providing sophisticated Customer Relationship Management (CRM) to ensure high levels of customer satisfaction.
Gaming VC uses Internet marketing and affiliate networks for customer acquisition and customer retention purposes.
In December 2004, Gaming VC's shares were admitted to the AIM market of the London Stock Exchange. Gaming VC has no and has never had any operations in the US and has never transacted wagering activity by players in the US.
Further information on the Company is available at www.gamingvc.com.