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GAMING VC TURNS IN HALF YEAR RESULTS
Gaming VC Holdings, the online gambling group that operates Casino Club, Poker Kings, Casino Club Poker, Betaland and Wizbingo, has announced that over the first six months of the 2008 financial year, trading has been slightly ahead of the Board's expectations due to resilience in the German casino business.
The total revenues are 15 percent ahead of the same period in the previous year and 13 percent more funded accounts have been recruited. Compared to the second half of 2007, revenue is 23 percent higher and there have been 5 percent more funded accounts recruited.
The group confirms that it remains in discussions with a third party which may or may not lead to an offer for the entire issued and to be issued share capital of the company (see previous InfoPowa reports). A further announcement will be made in due course if appropriate.
Commenting on the H1 KPIs, Kenneth Alexander, Chief Executive Officer said: "The results of the first half demonstrate the continued growth of the business. 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. I am confident that growth will continue as we diversify our services and expand our reach into new international territories. "
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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