Director/PDMR Shareholding

Gaming VC Holdings S.A.
24 January 2006


NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required
by DR 3.1.4R(1).

(1)     An issuer making a notification in respect of a transaction relating to 
        the shares or debentures of the issuer should complete boxes 1 to 16, 
        23 and 24.
(2)     An issuer making a notification in respect of a derivative relating 
        to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 
        16, 23 and 24.
(3)     An issuer making a notification in respect of options granted to a 
        director/person discharging managerial responsibilities should complete 
        boxes 1 to 3 and 17 to 24.
(4)     An issuer making a notification in respect of a financial instrument 
        relating to the shares of the issuer (other than a debenture) should 
        complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Please complete all relevant boxes in block capital letters.

1. Name of the issuer

Gaming VC Holdings SA

....................................

2. State whether the notification relates to (i) a transaction notified in
accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as
extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)

The notification relates to (i) a transaction notified in accordance with DR
3.1.4R(1)(a)

....................................

3. Name of person discharging managerial responsibilities/director

Gerard CASSELS

....................................

4. State whether notification relates to a person connected with a person
discharging managerial responsibilities/director named in 3 and identify the
connected person

N/A

....................................

5. Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest

N/A

....................................

6. Description of shares (including class), debentures or derivatives or
financial instruments relating to shares

N/A

....................................

7. Name of registered shareholders(s) and, if more than one, the number of
shares held by each of them

N/A

....................................
....................................

8 State the nature of the transaction

N/A

....................................

....................................

9. Number of shares, debentures or financial instruments relating to shares
acquired

N/A

....................................

10. Percentage of issued class acquired (treasury shares of that class should
not be taken into account when calculating percentage)

N/A

....................................

11. Number of shares, debentures or financial instruments relating to shares
disposed

N/A

....................................

12. Percentage of issued class disposed (treasury shares of that class should
not be taken into account when calculating percentage)

N/A

....................................

13. Price per share or value of transaction

N/A

....................................

14. Date and place of transaction

N/A

....................................

15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage)

N/A

....................................

16. Date issuer informed of transaction

N/A

....................................

If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes

17 Date of grant

24 January 2006

....................................

18. Period during which or date on which it can be exercised

One quarter vests on the first anniversary of the date of grant with the balance
becoming exercisable in 36 equal monthly instalments over the next three years,
and remain exercisable until 10 years after the date of grant.

....................................

19. Total amount paid (if any) for grant of the option

Nil

....................................

20. Description of shares or debentures involved (class and number)
175,000 ( One Hundred and Seventy Five Thousand)

Ordinary shares of € 1.24 each

....................................

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise

2.975 (Two Pounds and Ninety Seven and a Half Pence)

22. Total number of shares or debentures over which options held following
notification

175,000 ( One Hundred and Seventy Five Thousand)

....................................

23. Any additional information

None

....................................

24. Name of contact and telephone number for queries
Gerard W CASSELS - Gaming VC CFO [phone]

....................................

Name and signature of duly authorised officer of issuer responsible for making
notification

Steve BARLOW

....................................

Date of notification

January 24 2006

....................................

END



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