The casino operator reported revenue of EUR9.2m for the third quarter and a proft before tax of EUR1.8m, with the average daily revenue some 7 per cent below the previous quarter at EUR100K per day.
The figures respectively of EUR21.3m and EUR12.5m for the first half of 2005 were considered exceptional and unrealistic due to the lack of marketing spend, which increased to EUR3.9m in the third quarter compared to just EUR0.9m in the first half.
The online casino added 4662 new depositing customers during the third quarter, representing a 23 per cent increase over the previous quarter, but experienced a further increase in October with over 3000 new player registrations.
The company now expects the full impact of the marketing spend in Q3 to be reflected into Q4 revenues, as demonstrated by the October results, and into 2006.
UPDATE: On the back of the news, shares of Gaming VC fell almost 20 per cent to 300p.
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