New Poker Room From Gaming VC
Published: Tuesday, October 18, 2005 Online-Casinos.com
NEW POKER ROOM SOON FROM GAMING VC
German-oriented gambling company has big plans for Europe
The internet casino and magazine group Gaming VC plans to commercially
launch its new online poker operation in the near future following a soft launch
in August and Beta testing through the European holidays.
Powered by Boss Media the poker room will add to Gaming VC's already healthy
Casino Club revenue streams from a mainly German market, although the company
has ambitious plans for wider European activity, including Spain, Italy and Russia.
The company was listed on the London AIM market in December 2004, raising GBP
81 million with which it bought Casinos International NV and its dominant position
in the German market, building the business ever since. It does not accept U.S.
player action.
Parent Gaming VC Holdings, a Luxembourg company issued strong first-quarter
figures recently reflecting gross wagering at Euro 880 million yielding net revenues
of Euro 21.3 million and a pretax profit of Euro 11.1 million.
The magazines, Roulette and Casino Club have proved to be effective
marketing aids boasting a circulation of 90 000 with the June issues. The companys
marketing numbers are sound, with 8115 new player signups and a conversion rate
of 62 percent. Client acquisition average cost is around a creditable Euro 250.
CEO Steve Barlow has the Spanish market firmly in his sights as the next
target for expansion. Research has shown that there are 4.7 million potential
new players in the region, 40 percent of them energetic early adapters.
Gaming VC has said that it plans to offer online poker in various European countries
and will localise its poker offerings to cater to players’ culture, language
and currency, based on their region.
“The launch of poker will enable Gaming VC to further extend its gaming product
offerings within Europe," Barlow said. "By working with Boss Media to
launch a Poker offering, we will attract an even broader range of customers and
deliver best-of-breed gaming in a regulatory compliant manner.”
