Online Casino Transfer: News - Gaming VC Results

05/01/2010		Online Casino Style: News Gaming VC Results - 2
Home History Games News Dictionary		continued from Gaming VC Results - 1 Other statistics included in the year end report for Gaming VC included the cash monies in possession in banks, available for use, which came to an impressive €17.6 million, already having paid for both the dividends for the year due to shareholders, as well as the cash costs attributed to acquiring online gambling company Betboo this year for €3 million. Most of their business was made from online casino action, though non-casino club business did make up 45 percent of the NGR, an increase compared to 2008’s 27 percent. Non-internet casino business also accounted for a quarter of the contribution. Partially to celebrate the happy surprises included in the year end report for Gaming VC, a special dividend payout has been scheduled, worked at €.50 per share. As 2010 ramps up, Gaming VC has noted a somewhat quiet start, though their executive board continues to remain optimistic about what the year holds. Sports betting, and non-casino action seems to be increasingly more profitable, as so far the non-casino NGR is accounting for 52 percent of the total of €14.8 million. The first quarter of 2009 saw just 46 percent of the action, of that year’s €14.9 million for the first three months of the year. Total sports bets were up as well, with 1.3 million wagers being placed. The amounts bet, however, were down to an even 16 million, compared with the last year’s €16.3 million. Industry analysts have said that is perfectly in line with market trends, as gamblers continue to frequent online gambling sites, but are betting more conservatively in the economy. So far this year, executive changes have already taken place, with experienced managers Jon Salmon and Jim Humberstone stepping into their new roles at Gaming VC. "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,” said Alexander. “The gaming sector continues to operate in a challenging environment, but the Group remains cautiously optimistic on current trading."

05/01/2010

Online Casino Style: News
Gaming VC Results - 2

continued from Gaming VC Results - 1

Other statistics included in the year end report for Gaming VC included the cash monies in possession in banks, available for use, which came to an impressive €17.6 million, already having paid for both the dividends for the year due to shareholders, as well as the cash costs attributed to acquiring online gambling company Betboo this year for €3 million. Most of their business was made from online casino action, though non-casino club business did make up 45 percent of the NGR, an increase compared to 2008’s 27 percent. Non-internet casino business also accounted for a quarter of the contribution.

Partially to celebrate the happy surprises included in the year end report for Gaming VC, a special dividend payout has been scheduled, worked at €.50 per share. As 2010 ramps up, Gaming VC has noted a somewhat quiet start, though their executive board continues to remain optimistic about what the year holds. Sports betting, and non-casino action seems to be increasingly more profitable, as so far the non-casino NGR is accounting for 52 percent of the total of €14.8 million. The first quarter of 2009 saw just 46 percent of the action, of that year’s €14.9 million for the first three months of the year.

Total sports bets were up as well, with 1.3 million wagers being placed. The amounts bet, however, were down to an even 16 million, compared with the last year’s €16.3 million. Industry analysts have said that is perfectly in line with market trends, as gamblers continue to frequent online gambling sites, but are betting more conservatively in the economy. So far this year, executive changes have already taken place, with experienced managers Jon Salmon and Jim Humberstone stepping into their new roles at Gaming VC.

"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,” said Alexander. “The gaming sector continues to operate in a challenging environment, but the Group remains cautiously optimistic on current trading."