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Poker.co.uk - Poker News Archive
Thursday 17th March 2005 Gaming VC Holdings S.A. announces a trading update
Casino Club
Average daily net revenue for January and February was Euro 130K compared to Euro 108K in the comparable period of 2004. Average daily net revenue for November and December 2004 was Euro 117K. The total wagers made in the Company’s casinos for January and February 2005 were Euro 311M as compared to Euro 274M for the same period in the prior year.
This 20% same period year-on-year increase in daily net revenue is a function of new products and growth in existing roulette operations as well as an increase in active customers.
New customer registrations in the period were 4,500 of which 2,900 deposited monies, bringing total lifetime depositing customers to 63,000. These new customers were drawn predominantly from Germany and Austria, however in the period approximately 14% of the new registrants have been seen from the UK.
Steve Barlow CEO said “We are very encouraged by the growth in the first two months of this year, and hope for continued good performance in the rest of the year.”
Publishing
In December 2004 the Company published its first magazine under the new management which featured an article on the Company’s slots operation. The Company believes this resulted in growth in this higher margin area of the business. The next magazine featuring the jackpot product has recently been released to 62,000 customers, and highlights winnings as large as Euro 500K.
New Market Opportunities
As part of the Company’s ongoing strategy a new Spanish language website has been launched with an initial highly targeted email push to 30,000 potential customers. These customers were selected using the same demographic profile as the customer base in Germany. It is too early to give feedback on this launch, however it is the intention of the Company to follow this soft launch with an aggressive marketing campaign. The Company is continuing to investigate and research other markets in Europe. The Company continues to review acquisition opportunities in all related markets.
For further information contact:
Steve Barlow, CEO
020 7554 1400
Robert Willis, CFO
020 7554 1400
Ken Cronin, Gavin Anderson & Company
020 7554 1442 / 07887 591 499
Robert Speed, Gavin Anderson & Company 020 7554 1427
Note to Editors
Gaming VC Holdings SA (AIM: GMHq.L) is a leading online casino games operator, with an annualized handle in excess of Euro 2 billion. The majority of its existing customers come from German speaking countries. The company listed on the Alternative Investment Market in December 2004. Gaming VC Holdings also owns two magazines, Casino Club and Roulette. Through these unique marketing and information magazines it is able to attract and retain casino games' players.
Source: OnlineCasinoNews
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