Wed, Jul

Considerable increase in Gaming VC Holdings SA Revenue


According to a trading update released by online casino and sportsbook operator, Gaming VC Holdings SA, the company shows a 30 percent year-on-year increase in the average daily revenues for the past three months of 166,000 Euros.

The Company reported that average daily revenues for the last three months of 2008 were 128,000 Euros and that even though it paid dividends of 12.5 million Euros over the past year it has 18.3 Euro in cash at present.

Sportsbetting revenues for the last three months have averaged 42,000 Euros a day which is double the amount for the same period in 2008.

Daily revenues for Gaming VC’s gaming services of the last three months have increased 13 percent year-on-year from 2008 and presently averages 124,000 Euros.

The South American gaming business, Betboo, was recently acquired by Gaming VC Holdings and has resulted in net gaming revenues for 2009 to rise four percent year-on-year to 50 million Euros, exclusive of the new subsidiary.  Since acquiring Betboo, revenues from this company have averaged 12,000 Euro per month.

Revenue from BetProf for the past eight months amounted to 500,000 Euro although the company is presently in the process of selling this Italian sportsbetting brand.

Gaming VC Holdings SA offers online casino games to customers based in German speaking countries and its main activity is the operation of online gambling.