Another Online Casino Firm Bypasses U.S.
European online casino group, Gaming VC Holdings, is the latest gaming firm to release strong results indicating the growth in online casino poker. Along with its increased poker revenues, the online casino firm also generated substantial growth from the German market. The results were welcomed by chief executive Steve Barlow, who commented that the online casino group’s decision to focus on non-U.S. markets has led to an improved awareness of the firm amongst its European shareholders.
The online casino group now refers to itself as a “leading online gaming operator in German speaking countries.” Wagers from U.S. players are not permitted at the group’s site, so the firm has little concern about further potential U.S. legislation against the online casino industry. Gaming VC’s board of directors has in the past stated that the lack of exposure to the U.S. has significantly enhanced the value of the online casino group to its investors. Following its results, the firm’s aim is to continue expansion into core German and Austrian markets.
At the same time, they are investigating to replicate the business model in other geographic areas. Currently the online casino firm is testing its product in Spain, which is thought to lack a dominant market leader in the industry. Up to 9000 daily visits to the firm’s Spanish website have been recorded and an intensified marketing campaign targeting Spanish speakers has begun. Similarly, Gaming VC has recently launched a new online casino site in Russian, allowing Russian speakers to gamble using both euros and roubles.