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Poker.co.uk - Poker News Archive
Wednesday 16th July 2008 Online Operator Sees Revenues Rise
Curacao-based online gaming operator Gaming VC Corporation has reported a 16 percent increase in total revenues to $41 million for the past six months due, in part, to the resilience of its German casino business and a 13 percent rise in new funded accounts.
The German-speaking online casino operator manages CasinoClub.com, PokerKings.com, CasinoClub-Poker.com, Betaland.com and WinZingo.com and revealed that daily revenues increased 15 percent from the same period last year to $226,049 with casino activity accounting for 76 percent of the total. It said that poker contributed eleven percent to total revenues while sportsbetting added another 13 percent.
In addition, Gaming VC stated that daily revenues increased 23 percent compared to the second half of last year while it also saw a five percent improvement in new funded accounts.
'The results of the first half demonstrate the continued growth of the business,” said Kenneth Alexander, Chief Executive Officer for Gaming VC.
“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.”
Gaming VC also revealed that, further to an announcement made in April regarding a preliminary takeover approach, it was still in discussions with an unnamed third party, which could lead to an offer for the entire issued share capital of the firm.
'I am confident that growth will continue as we diversify our services and expand our reach into new international territories,” said Alexander.
Source: OnlineCasinoNews
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