4th May 2005 07:00
Gaming VC Holdings S.A04 May 2005 Gaming VC Holdings S.A. Quarter 1 Trading Update 4th May 2005 Gaming VC Holdings S.A. (the "Company") announces unaudited results for thequarter ended 31st March 2005. Financial Highlights Handle EUR 480 million + 14% on 2004Net Revenue EUR 11.5 million + 11% on 2004EBITDA (estimate) EUR 7.5 million *Closing Cash Balance EUR 7.5 million * \* There was no comparable Group structure prior to the flotation of the Company;as a result there is no prior year audited financial information. Operational Highlights * Launch of Spanish site, with targeted marketing campaign, delivered to timetable * 4,328 new first time depositing customers during the first quarter * Launch of six new slots games * Establishment of finance management system * Appointment of senior business development and marketing personnel New Developments * Launch of GVC Poker planned for July 2005 Commenting on the first quarter results Steve Barlow, CEO, said: "These results are comfortably ahead of our initial plans. With cash conversioncontinuing to be extremely strong, we anticipate paying a dividend at the halfyear in line with our commitments made during the IPO in December." Date of next results The Company's year end is 31st December. As the Company only started trading on21st December 2004, its first set of final results will be for the period to31st December 2005. As such, the directors do not feel it is appropriate to holdan annual general meeting this year as there are no accounts to approve.Accordingly, the Company will hold its first annual general meeting in May 2006.The Company will release audited interim results for the six month period ending30th June 2005 later this year. For further information contact: Steve Barlow, CEO 020 7554 1400Robert Willis, CFO 020 7554 1400Ken Cronin, Gavin Anderson & Company 020 7554 1442 / 07887 591 499Robert Speed, Gavin Anderson & Company 020 7554 1427 Note to Editors Gaming VC Holdings SA (AIM: GVCq.L) is a leading online casino games operator,with an annualized handle in excess of Euro 2 billion. The majority of itsexisting customers come from German speaking countries. The company listed onthe Alternative Investment Market in December 2004. Gaming VC Holdings also ownstwo magazines, Casino Club and Roulette. Through these unique marketing andinformation magazines it is able to attract and retain casino games players. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GVC.L