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Gaming VC FY and Q1 numbers

4/19/10 - The publicly-listed European online gambling group Gaming VC has released its full year 2008 and Q1 2010 results, posting moderate improvements and successful diversification after a tough year of trading.
 
Financial highlights for 2009 statistics include:
 
* Net Gaming Revenue increased 7.7percent  to Euro 54 million (2008: Euro 50.1 million)
 
* Clean EBITDA Euro 17.4million (2008: Euro 19.5 million)
 
* Like-for-like costs Euro 8.1 million (2008: Euro 8.4 million)
 
* Profit before tax Euro 13.8 million (2008: Euro 16.9 million)
 
* Own funds at bank Euro 17.6 million despite Euro 3 million paid for Betboo and Euro12.4 million paid in dividends during the year
 
* Non-Casino Club business now generating 45 percent of NGR (2008: 27 percent) and 25 percent of contribution (2008: 7.5 percent)
 
The company plans a special dividend of Euro 0.50 per share
 
2009 operational highlights included the acquisition of South American sportsbetting site Betboo, continued diversification outside Germany, continuing Isle of Man redomiciliation planning and improve performance from the Betaland subsidiary.
 
The company reports that Quarter 1 2010 has so far had a quiet start with NGR at Euro 14.8 million (Q1 2009 Euro 14.9 million).
 
Non-Casino Club NGR is up at Euro 7.7 million (Q1 2009: Euro 6.8 million), representing 52 percent of total NGR (2008: 46 percent)
 
Total sports bets of 1.7 million is an improvement over Q1 2009 when the number of bets reached 1.3 million, with total wager in sports down slightly at Euro 16 million (Q1 2009: Euro 16.3 million).
 
Gross win margin from Betaland sports declined to 15.0 percent (Q1 2009: 23.4 percent)
 
Key industry-experienced managers Jon Salmon and Jim Humberstone have been appointed (see previous InfoPowa report).
 
Commenting on the results, Gaming VC chief executive Kenneth Alexander said: "Despite difficult trading conditions throughout 2009, Gaming VC has continued to deliver on its strategic growth strategy, offering enhanced products, diversifying geographically and expanding the business outside of Germany. The Group's acquisition of South American gaming company Betboo in the year is part of this strategy.
 
"I have been encouraged with the Group's progress in the first quarter, in particular with the appointment of Jon Salmon and Jim Humberstone to its management team, both respected veterans in the e-gaming sector. The gaming sector continues to operate in a challenging environment, but the Group remains cautiously optimistic on current trading."



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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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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.

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