SOURCE: Press Release

Gaming VC Holdings S.A. (AiM:GVC), a leading European online gaming provider, is pleased to announce the following update on trading.

Gaming VC is confident that current trading is slightly ahead of management's expectations for full-year forecasts, reflecting the additional sportsbook revenue since the successful launch of its Maltese operation in August 2007.

The Company has also benefited from reduced operational costs including the re-negotiated Casino service contract in the second half of the year and the cessation of the direct mail campaign in May 2007 in favour of increased CRM focus and affiliate campaigns.

The current expectations for the full year assume gross win rates that are in line with the year to date.

Securing the EU license in Malta and ensuring that all of Gaming VC's German customers will be playing in the Maltese Casino by the end of 2007 mitigates the Company's risk profile given that no clarity has yet been provided on how the proposed German State Treaty on Gambling will be implemented in 2008.

The Company had an unaudited cash balance of €14.8 million as at 30 November 2007.

New funded accounts increased by 24 percent. compared to the same period last year.

Overall casino and poker volumes have been flat in the last five months however the successful launch of Gaming VC's new sportsbook at the end of August 2007, generated €6.5 million in turnover in its first three months of trading, representing a 14.4 percent margin of €945k.

This has allowed the Company to not only register growth in terms of margin and new funded accounts but also to diversify away from its core German business.

KPIs in the second half of 2007 show that the overall gross win was 6 percent. ahead of the same period last year. In the 11 months to the end of November 2007 the margin generated from all products is 5 percent. ahead of the corresponding period last year.

Kenneth Alexander, Chief Executive 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."