Gaming VC Trading Update
Published: Wednesday, November 15, 2006 Online-Casinos.com
GAMING VC TRADING UPDATE
Positive KPI stats from European operator
Publicly traded European online casino company Gaming VC Holdings S.A. released a positive trading update this week.
New registrations during the month of October 2006 were 8 557 compared to 4 388 in September 2006, a 94 percent increase. 3 372 new depositing customers were recorded in the month compared to 2 327 in September, a 45 percent increase.
Daily revenues in the month were 108 239 , up 2.6 percent on September.
Commenting on the recent performance, Adrian Smith , non-executive chairman of Gaming VC, said: "Since the third quarter Gaming VC has experienced good growth and we are pleased to report that we have made considerable progress in implementing the necessary changes to tackle the challenges of that quarter."
"We have successfully restored our marketing channels back to previous levels and also experienced the expected seasonal uplift from Casino Club's new registrations and loyal customers. Gaming VC has also made strong gains in poker and we remain confident in the quality of our offering."
The company's CEO, Steve Barlow resigned unexpectedly earlier this month, saying: "Having followed closely developments in the gaming industry, I believe it is now time to bring in new talent to take the Group forward and lead it in the next stage of its development. I will continue to help the Group in its strategic objectives and look forward to working towards delivering increased shareholder value."
Paul Hambelton, Chief Marketing Officer, assumed the role of joint Chief Executive on an interim basis whilst the Board seeks to appoint a permanent CEO. Adrian Smith, an independent non-executive Director of the Group, was appointed non-executive Chairman whilst Nigel Blythe-Tinker moved to a non-executive Director position.
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