Gaming VC Shares Jump on LSE - 04-21-08 |
April 21 - Speculation was high at the end of the week over who was behind a
bid for preliminary takeover of one of the most popular online gaming operators
in the industry, Gaming VC Holdings.
As a result of the takeover approach, share prices of the company jumped 55
pence on the London Stock Exchange, or 26.38%.
Earlier in the week, a notification of major interest in Gaming VC Holdings
was made by Audley Capital Management Limited, a top investment firm from the
United Kingdom. Audley Capital currently owns nearly eight million shares in the
company - over 25%. It is not known whether the latest preliminary take over
approach was made by Audley Capital or not.
Gaming VC Holdings, which has a strong presence in the German market through
its popular Casino Club and others, posted a turnover of 40 million Euros in
2006. At the end of last year, the company signed a license agreement with Net
Entertainment to provide its browser based Casino Module to a number of Gaming
VC's brand sites.
Last year, the company also received a Maltese operating license, shortly
before it posted its updated trading report at the end of November. At this
time, the Chief Executive Officer of Gaming VC said: "Securing the Maltese
license and moving our core business there positions Gaming VC well to reduce
legislative risk to its operations in Germany and to provide an additional
platform to expand our business. We continue to believe that our year end
profits will be slightly ahead of market expectations and are confident that the
business will continue to grow and diversify away from its core German business
during 2008."
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