The internet casino and magazine group Gaming VC plans to commercially launch its new online poker operation in the near future following a soft launch in August and Beta testing through the European holidays.
Powered by Boss Media the poker room will add to Gaming VC’s already healthy Casino Club.com revenue streams from a mainly German market, although the company has ambitious plans for wider European activity, including Spain, Italy and Russia.
The company was listed on the London AIM market in December 2004, raising GBP 81 million with which it bought Casinos International NV and its dominant position in the German market, building the business ever since. It does not accept U.S. player action.
Parent Gaming VC Holdings, a Luxembourg company issued strong first-quarter figures recently reflecting gross wagering at Euro 880 million yielding net revenues of Euro 21.3 million and a pretax profit of Euro 11.1 million.
The magazines, Roulette and Casino Club have proved to be effective marketing aids boasting a circulation of 90 000 with the June issues. The companys marketing numbers are sound, with 8115 new player signups and a conversion rate of 62 percent. Client acquisition average cost is around a creditable Euro 250.
CEO Steve Barlow has the Spanish market firmly in his sights as the next target for expansion. Research has shown that there are 4.7 million potential new players in the region, 40 percent of them energetic early adapters.
Gaming VC has said that it plans to offer online poker in various European countries and will localise its poker offerings to cater to players’ culture, language and currency, based on their region.
“The launch of poker will enable Gaming VC to further extend its gaming product offerings within Europe,” Barlow said. “By working with Boss Media to launch a Poker offering, we will attract an even broader range of customers and deliver best-of-breed gaming in a regulatory compliant manner.”