PRESS RELEASE
Q1 update
22 April 2008
Gaming VC, a leading European online gaming company,, is pleased to give the following update on Key Performance Indicators for the first quarter of 2008.
During the first three months of the 2008 financial year trading has been slightly ahead of expectations, due to both resilience in the German casino business and better than expected sportsbook performance. The total revenues are 12% ahead of the same period in the previous year and 6% more funded accounts have been recruited. Compared to the fourth quarter of 2007 revenue is 23% higher and there have been 3% more funded accounts recruited.
Daily Revenue
| Q1 2008 | Q4 2007 | % change versus Q4 2007 |
Q1 2007 | % change versus Q1 2007 |
|
| Casino | €111k | €97k | 14% | €120 | (8)% |
| Poker | €15k | €12k | 27% | €9 | 69% |
| Sportsbook | €19k | €9k | 107% | - | - |
| Total | €145k | €118k | 23% | €129k | 12% |
| New Funded Customers | 116 | 113 | 3% | 109 | 6% |
Commenting on the Q1 KPIs, Kenneth Alexander, Chief Executive Officer, of Gaming VC, said: “The results of the first quarter demonstrate significant growth from the last quarter of 2007. I am particularly pleased with the performance of our sportsbook, which was launched in September 2007 and has exceeded the Company’s expectations. I am confident that this growth will continue as we diversify our services and expand our reach into new international territories.”
For further information:
| Gaming VC Holdings S.A. | |
| Adrian Smith, Non-Executive Chairman | Tel: +44 (0) 20 7398 7700 |
| investors@gamingvc.com | 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 | |
| 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 focussed 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.