Gaming VC floated on Aim last December, raising £81m in the process. These funds were then used to buy Casinos International, the biggest online casino in German-speaking markets. And these maiden results reflect the boom in online gambling, especially for roulette in Germany, which accounts for 70 per cent of Gaming's business there - well ahead of Black Jack. Gaming now plans to introduce poker to the German market.
Gaming has also targeted Spain as the spearhead of its planned geographic diversification. The group sees a potential market there of 4.7m online gamblers. The build-up in Spain will start in the second half and will also include poker. Gaming has Italy and Russia in view, too. The second half of the year will see the benefits of a marketing blitz in Germany, which should reverse the revenue fall seen in the second quarter.
| Ord price: 516p | Market value: £161m |
|---|---|
| Touch: 510-522p | 12-month High: 893p Low: 447p |
| Dividend yield: 4.1% | PE ratio: 21 |
| Net asset value: 378¢* | Net cash: E12.1m |
*Includes intangible assets of E104m, or 335¢ a share
£=E1.47
| Half-year | Turnover | Pre-tax | Earnings | Dividend |
|---|---|---|---|---|
| to 30 Jun | (Em) | profit (Em) | per share (¢) | per share (p) |
| 2005 | 21.3 | 11.1 | 36 | 21 |
| % change | - | - | - | - |
