Gaming VC - Bringing innovation, excitement and integrity to online gaming.

PRESS RELEASE

Preliminary Results

17 April 2007

Gaming VC Holdings S.A., a leading European online gaming company, today announces its unaudited preliminary results for the year ended 31 December 2006.

Financial Highlights

• Recommended final dividend of 13p per share (gross) to be paid on 29 May 2007 (2005: 21p per share). The total dividend for the year of 26p per share (2005: 42p per share) represents a yield of 17.7% on last night’s closing price
  
  
• Turnover of €40.6 million (2005: €40.4 million)
  
  
• Gross margin 72% (2005: 76%)
  
  
• Operating profit before exceptional items* and share option charges €13.5 million (2005: €13.9 million)
  
  
• EBITDA €15.5 million (2005: €16.2 million)
  
  
• Basic earnings per share before exceptional items* €0.41 (2005: €0.41)
  

* Exceptional items include €8.3 million of accelerated amortisation charges on the Group’s software licences, and a €33.3 million write down of goodwill primarily driven by the potential impact of the continuing German Laender’s regulatory position against the online gaming industry.

Commenting on the Results, Adrian Smith, non-executive Chairman of Gaming VC, said: “2006 has been a challenging year for Gaming VC but one in which the Group has emerged in a much stronger position to deliver growth and increased returns for our shareholders.”

Gaming VC’s management team has been significantly strengthened with Kenneth Alexander installed as Chief Executive on 1 March 2007. Our core business in Germany is cash generative and I am confident in our ability to expand Gaming VC’s operations into new markets outside of Germany.”

The full results are available to download in PDF format.

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