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PRESS RELEASE

Interim Results

25 September 2007

Gaming VC Holdings S.A. (AiM:GVC), a leading European online gaming operator, today announces its Interim Results for the six months ended 30 June 2007 and third quarter outlook for the three months ended 30 September 2007.

Interim Highlights

• Recommend interim dividend increased 5.3% to €0.20 per share (c.13p) to be paid on 31 October 2007 (H1 2006: €0.19 per share (c. 13p)
• Turnover increased 3.8% to €22.0 million (H1 2006: €21.2 million)
• Gross margin 74.1% (H1 2006 73.9%)
• Operating profit before share option charges increased 20.3% to €8.9 million (H1 2006: €7.4 million)
• EBITDA increased 22.0% to €10.0 million (H1 2006: €8.2 million)
• Basic earnings per share increased 28.6% to €0.27 (H1 2006: €0.21)

Q3 Business Update

• On-line marketing maintains player sign-ups reducing customer acquisition costs
• Renegotiated contract for German market with Boss Media generates cost savings
• Grant of Maltese gaming licence
• Successful launch of gaming operations in Italy

Commenting on the results, Adrian Smith, Chairman of Gaming VC, said: "I am pleased to report we have delivered on the new direction set out at Kenneth Alexander’s appointment as Chief Executive in March of this year. We have successfully laid the foundations and are continuing to improve the Group’s overall profitability and diversification outside of Germany within Europe. Cost reductions have enhanced first half results and we expect them to continue to contribute further benefits in the second half of the year. I look forward to the performance in Quarter 4 of 2007 from both our new affiliate programs and the launch of the Italian business."

The results are available to download in PDF format.

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