GAMING VC FORECASTS POSITIVE 2010 FINANCIALS


GAMING VC HOLDINGS SA has released a trading update stating that it expects its financial results for the whole of 2010 to be "in line with market expectations".

The Isle of Man-based firm revealed that it anticipates being able to declare a final dividend "in-line with the ten cents dividend paid in October of 2010". The company declared that its core German¬facing and roulette-dominated casino business is proving to be "resilient" over the final quarter of 2010 with daily net gaming revenues of €78,000 against €81,000 for the same period in 2009.

"CasinoClub.com has had a particularly strong December where daily net gaming revenues have averaged €83,000," read the update from Gaming VC.

The firm announced that sports wagers have increased by 41 percent year-on-year over the fourth quarter to €205,000 while margins over the twelve months have averaged 12.6 percent compared with 16.8 percent for the same period in 2009. However, it stated that its results in this sector have "been soft" over the final quarter of 2010 at six percent "following a run of unfavourable sports results".
 
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