05-07-2007 Gaming VC to launch an online sportsbook in Italy

The company's CEO Kenneth Alexander said he expects to conclude the acquisition of an Italian sportsbook license before the start of the 2007/8 Italian soccer season and to have an online gaming license in Malta within the third quarter of 2007.

The online casino business announced that trading in the first six months of 2007 has been positive and results are ahead of market expectations, with 16,860 new depositing customers, up 32% compared to the same period last year, and net revenue of EUR 22.0 million, 4.3% ahead of first half revenues in 2006.

The company also announced to have renegotiated the terms of its software license agreement with Boss Media, which will allow Gaming VC to use alternative software suppliers where appropriate outside German speaking markets.

In separate news, mobile phone gambling specialist Probability reported £2.2m in operating losses for the year ended 31 March 2007. Turnover for the full year was of £11.9m, with significant revenue growth in the second half.