Online Poker Powerhouse VC Profits Greatly

German based VC, an online casino and poker site reported profit margins rising sharply in the first half of the year. The organization accomplished this by switching from direct mail to online marketing.

Profits rose by 28 percent to Euro 8.54 million in the six months to June, with revenues 4 percent higher at Euro 22 million. Pre-share option costs, the profit was 20 percent up at Euro 8.9 million. And trading volumes and margins in the third quarter to date have been in line with the same period in 2006.



The Renegotiations with Boss Media Software Contract was credited for the new revenue savings. Combine that with the marketing efficiencies from the termination of direct mail programs for customer recruitment, and the profit margin should continue to increase for years in the future.



"The new sports book in Italy has seen a positive start with the group now in a position to deliver continued good cash generation from the core German business and profitable growth from other geographic markets in the fourth quarter and beyond," the statement concluded.