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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Global Market | LSE:GMC | London | Ordinary Share | KYG3927E1145 | ORD USD0.0002 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 50.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Gaming Corporation PLC Gaming Corporation PLC 14th September 2005 Trading Statement Gaming Corporation plc ('Gaming Corp' or 'the Company'), the number 1 gaming portal operator and owner of both www.gambling.com and www.casino.co.uk, today provides an update on trading for the year ending September 2005. Gaming Corp has completed the integration of Gambling.com and the business is continuing to exceed management's expectations during the first months of ownership. The mobile gaming business launched with Orange UK continues to out-perform our initial revenue forecasts having signed 2,500 registered customers during the initial soft launch phase. As Orange UK intensifies their marketing effort we would anticipate further rapid growth in our mobile gaming operation. The Company is also in ongoing negotiations with other European network operators with a view to replicating the success we have experienced with Orange UK. In addition, the Company is now benefiting from a significant reduction in its costs following a move to a new software supplier for its online and mobile casino games. This reduction in marginal costs will continue to improve as the casino operation continues to gain scale. Gaming Corp continues to dominate the on-line gaming portal market and has significantly benefited from both our advertisers requirement to attract new customers and unprecedented market growth. Whilst there has been recent comment regarding the increasing cost of customer acquisition in the online gaming industry these growing subscriber acquisition and marketing costs have been beneficial to Gaming Corp as operators are now paying up to 50% more to acquire customers from our gaming portals. The multiplayer internet and mobile poker software which has been developed with Ongame is in the final stages of development and will be launched over the next few weeks. The poker site will offer Casino.co.uk customer's access to over 5 Million registered poker players across Ongame's poker network. The software will allow our customers to play online and via their mobile phone. Gaming Corp has a lower regulatory risk compared to many of our competitors as we do not target US customers with our own casino operation and our gaming portal business falls outside the contentious regulatory framework as it is essentially a media and advertising business. The Company expects that operating profit before exceptional costs will be materially higher than management's earlier expectations. Justin Drummond, Chief Executive of Gaming Corp, commented, "The Group has made tremendous progress during this year having completed a number of key acquisitions and having successfully launched some groundbreaking and innovative new gaming sites". "The mobile gaming division is going from strength to strength and we believe that the new poker site will provide a considerable new revenue stream to the Group". For further information contact: Damion Greef, Communications Director, 07736 381 030 Trevor Phillips, Holborn PR, 020 7929 5599 Justin Drummond, Chief Executive, 020 7618 9000 Jason Drummond, Chairman, 020 7618 9000
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