17th Mar 2005 07:14
Gaming VC Holdings S.A17 March 2005 Gaming VC Trading Update Gaming VC Holdings S.A. (the "Company") announces a trading update for the firsttwo months of 2005. Casino Club Average daily net revenue for January and February was Euro 130K compared toEuro 108K in the comparable period of 2004. Average daily net revenue forNovember and December 2004 was Euro 117K. The total wagers made in the Company'scasinos for January and February 2005 were Euro 311M as compared to Euro 274Mfor the same period in the prior year. This 20% same period year-on-year increase in daily net revenue is a function ofnew products and growth in existing roulette operations as well as an increasein active customers. New customer registrations in the period were 4,500 of which 2,900 depositedmonies, bringing total lifetime depositing customers to 63,000. These newcustomers were drawn predominantly from Germany and Austria, however in theperiod 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 twomonths of this year, and hope for continued good performance in the rest of theyear." Publishing In December 2004 the Company published its first magazine under the newmanagement which featured an article on the Company's slots operation. TheCompany believes this resulted in growth in this higher margin area of thebusiness. The next magazine featuring the jackpot product has recently beenreleased 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 hasbeen launched with an initial highly targeted email push to 30,000 potentialcustomers. These customers were selected using the same demographic profile asthe 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 anaggressive marketing campaign. The Company is continuing to investigate andresearch other markets in Europe. The Company continues to review acquisitionopportunities in all related markets. 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: GMHq.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 Exchange ENDRelated Shares:
GVC.L