Gaming VC Announces Financials

December 27, 2007

Gaming VC is please to announce that in their third quarter the company showed a slight profit. The online gambling company says that they are expecting higher end of year results as well – despite what was originally predicted from the company. They had forecasted lower amounts both quarterly and annually, and now it seems that they undervalued where they would actually be.

Gaming VC is a well known online gambling operator, both owning and operating online casinos such as Betaland, Casino Club Poker and Casino Club. The online gambling company says that their numbers increased by 24% for this past quarter, including gross profits of a little more than $57 million.

For the same period last year, the online gambling company says that they were only showing $54.6 million, so this was a nice increase for them. They say that they expect that their year end results will be higher than last year also now, because of the third period increase that they are reporting.

They think that the diversification that they enabled this past year, moving away from their core German business, has a lot to do with the financial increase that the online gambling company has been showing. They say that the majority of their increase can be attributed to their sportsbook operations, which brought in $9.5 million – while the other aspects of the company held at roughly the same amounts.

Kenny Alexander, the CEO for Gaming VC, says that he and the company are confident that they are going to see year end increases based on these numbers, which only further solidifies their holding in the online gambling industry.

 

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