Gaming VC Corp BV Receives Bid Approach

Thursday April 17, 2008

News that high flying European online casino and poker group Gaming VC Corp BV has received a preliminary bid approach sent its shares sharply higher Thursday.

"The board of directors of Gaming VC Corp BV announces that it has received a preliminary approach which may or may not lead to an offer being made for the entire issued and to be issued share capital of the Company," it said in a brief statement.

Gaming's shares have more than tripled since December after the company said full year profits will beat forecasts thanks to additional sportsbook revenue since the Maltese operation was launched in August.

The AIM listed group also benefited from reduced operational costs including the re-negotiated Casino service contract in the second half and the cessation of the direct mail campaign in May.