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Big Rise in Gaming VC Holdings SA Revenue
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A trading update has been released by online casino and sportsbook operator, Gaming VC Holdings SA, which reveals a 30 percent year-on-year rise in the average daily revenues for the last three months of 166,000 Euro.
Gaming VC Holdings SA is based in Luxemborg and has reported that its average daily revenues for the last three months of 2008 were 128,000 Euro and that despite paying dividends of 12.5 million Euro over the last twelve months, it currently has 18.3 Euro in cash.
The company also revealed that sportsbetting revenues for the last three months have been averaging 42,000 Euro per day – double the amount of 21,000 for the same period in 2008. The margin, at 29.5 percent shows an increase over last year’s 11.1 percent.
It was also reported that the daily revenues for its gaming services over the fourth quarter showed a 13 percent year-on-year increase from 2008’s 107,000 Euro and now averages 124,000 Euro.
The recent acquisition of Betboo, the South American gaming business has resulted in Gaming VC’s net gaming revenues for 2009 to rise four percent year-on-year to 50 million Euros. This amount is exclusive of the new subsidiary. Since the acquisition of Betboo in July 2009 Gaming VC has reported revenues from this company averaging 12,000 Euro per month.
Although the company is presently going through the process of disposing of its Italian sportsbetting brand BetPro it has revealed that net gaming revenues from this brand for the past eight months amounted to 500,000 Euro.
Gaming VC Holdings SA’s main activity is the operation of online gambling and it offers online casino games to their customers based in German speaking countries. It operates mainly in Austria, Germany and Switzerland.
