The online casino operator announced a profit before tax of €12.8 million on turnover of €40.4 million for the year ended 31 December 2005. The Board has recommended a final dividend of 21p per share, giving a total distribution of 42p for the year.
“These results demonstrate Gaming VC\’s ability to deliver strong increases in revenues as seen by the achievement of at least 2% per month revenue growth since October 2005. Our cost base remains broadly fixed with incremental revenues contributing directly to profits,” commented Steve Barlow, Chief Executive of the company.
Gaming VC, which operates Boss Media-powered casino and poker websites in German speaking countries, aims to replicate its successful business model in other geographic areas, including Spain and Russia.
In the first quarter of 2006 the company had 7,428 new depositing customers out of 14,777 new registrations.
“We are well positioned to maintain our growth in 2006 and are confident that our efforts to build Gaming VC\’s presence in the online casino market will continue to deliver positive results. Trading in 2006 to date has been comfortably in line with management\’s expectations, ” said Nigel Blythe-Tinker, Chairman of Gaming VC.
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