Gaming VC Corp BV Ends Takeover Talks

September 08, 2008

After four months of negotiations, Curacao-based online gaming operator Gaming VC Corp BV has announced that takeover talks with a still unidentified party have been abandoned.

Gaming VC Corp BV operates casino sites such as Casino Club, Casino Club Poker, Betaland, Winzingo and Poker Kings and the revelation saw its shares plunge the most in 20 months of trading, some 17 percent, on the London Stock Exchange. The firm stated that it would also be considering a share buy-back programme in due course.

Despite the bad news, the Europe-facing group revealed that first-half earnings would meet analysts' estimates as has continued to trade in line with market expectations.

In addition, it stated that it is considering an approach from Audley Capital Management Limited, which currently holds a 29.3 percent share, for board representation. Audley earlier advised investors that it has no plans at present to dispose of its stake in Gaming VC Corp BV.

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