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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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Gambling News :

Local Florida Poker Pros Scam Marc Klang For $500k - Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

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