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GAMING VC REPORTS 23 PERCENT RISE IN H1 PROFITS
European operator Gaming VC has reported growth in EBITDA of 7 percent to Euro 10.6 million on last year’s Euro 10 million for the six month period to the end of June, with pre-tax profits rising 23 percent to Euro 10.5 million, on last year’s Euro 8.5 million.
Group revenue was up 20 percent to Euro 26.3million, and operating profit also rose 19 percent to Euro 10.6 million. Gross profits rose 30 percent to Euro 21 million during the period, compared with Euro 16.3 million last year.
Kenny Alexander, chief executive of Gaming VC, said that Gaming VC's core German poker and casino market had performed well and had been “resilient with volumes maintained due to the group’s online affiliate marketing and continuous focus on customer relationship management. Our CRM hub is now fully operational and all customer service and contact is being done in-house, improving the group’s overall performance by reducing attrition levels and maintaining lifetime values”.
His report added that the German Interstate Treaty that was passed in January 2008 banning internet gambling in the country was in contravention of EU law.
On an operational front, the group will launch at least two new casino brands targeting customers outside Germany, Alexander revealed. The company will also be launching its sportsbook in additional languages, with four new Eastern European partnership agreements signed.
Gaming VC’s Italian sportsbook business grew strongly, generating Euro 3.2 million of gross margin from a handle of Euro 22.5 million, representing a margin of 14.2 percent, during the first six months. TV and press marketing campaigns will be launched in the second half of the year to build on the Italian sportsbook’s good performance. Its Spanish bingo site winzingo.com is now live and an increased marketing drive will take place in the second half of the year
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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