19th Jan 2005 08:21
Gaming VC Holdings S.A19 January 2005 Gaming VC Holdings SA ("GVC" or the "Company") Post IPO update The Directors of GVC (AIM: GVCq.L), the AIM traded e-gamingbusiness, are delighted to announce the successful flotation of GVC on the AIMexchange in London, as well as strong performance since the successfulcompletion of the IPO in December. The Company raised £81m at 420 pence per share at a £130.8m valuation. Theproceeds from the fundraising financed the purchase of the Casino-Club and itsmedia assets, by the Company, for £72m and towards IPO expenses and workingcapital. GVC is a profitable company reporting historic net revenues of over £2mper month through its online casino. The GVC flotation represented the fourth largest IPO on London's AIM in 2004 andthe third largest IPO by market value on AIM last year. Since flotation the core casino operations have performed well whilst the new "slots" games, which where introduced in November, have performed ahead ofbudget. The roll-out of the Casino-Club brands into additional European markets isprogressing as planned with the first launch into new territories expected thisQuarter. Steve Barlow, CEO said "We are very pleased with the enthusiasm of theshareholders and Institutions that have invested in GVC. The business is builton a strong backbone of technology that allows us to integrate multiplelanguages and offer new gaming products to additional European markets. We lookforward to focusing on growing this already impressive business" - Ends - For further information please contact:Gaming VC Laura Dubin, Investor Relations +1.617.663.5788 Collins StewartTim Mickley / Nick Ellis +44 20 7523 8350 Notes to Editors Gaming VC Holdings SA (AIM: GVCq.L), is a leading online gaming casino gamesoperator, with a majority of its existing customers coming from German speakingcountries. Listing on the Alternative Investment Market in December 2004, GamingVC Holdings also owns two print media magazines, Casino Club and Roulette. Through these unique marketing and information magazines it is able to attractand retain casino games' players. The market for Internet gaming has expandedat an annual growth rate of between 40 per cent. and 50 per cent. since 1999. Estimated to be worth $5.7bn in 2003, it is projected to reach $9.9 billion in2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GVC.L