Online Gambling Firm Gaming VC Holdings Looking to Expand in Europe

Apr 19, 2007

Although the online gambling industry has hit a slump in 2006, online casino and poker firm, Gaming VC Holdings SA, operator of the Casino Club, a popular online casino in Germany, has announced its plans to make 2007 a memorable year by expanding outside of the German market.

Casino Club experienced a low pre-tax profit for the period ending December 31, 2006, standing at a disappointing €4.4 million; compared to €12.8 million a year earlier, however, 2007's first quarter has already met the company's expectations.

The company's development plans include bidding for new gaming licenses throughout the EU, including securing a gaming license in Italy in its second quarter, switching from direct mail to online marketing to increase its market presence, and plans to increase overall group tax charge from a current base level of two percent of operating profits to about ten percent by 2008.

Gaming VC Holdings opened in 2004 focusing on operating and acquisitions for the growing world of online gaming. The company was incorporated in Luxembourg to acquire the business and operating assets of Casinos International NV, collectively known as The Casino Club.

The Casino Club has over 58,000 active customers, more than 100,000 registered users, and is larger than William Hill, Sportingbet, and Bet 365 from a single market position.