Trading Statement

Gaming VC Holdings S.A
04 May 2005


                            Gaming VC Holdings S.A.

                            Quarter 1 Trading Update


4th May 2005

Gaming VC Holdings S.A. (the 'Company') announces unaudited results for the
quarter ended 31st March 2005.

Financial Highlights

Handle                        EUR 480 million             + 14% on 2004
Net Revenue                   EUR 11.5 million            + 11% on 2004
EBITDA (estimate)             EUR 7.5 million             *
Closing Cash Balance          EUR 7.5 million             *


*There was no comparable Group structure prior to the flotation of the Company;
as a result there is no prior year audited financial information.

Operational Highlights


  * Launch of Spanish site, with targeted marketing campaign, delivered to
    timetable
  * 4,328 new first time depositing customers during the first quarter
  * Launch of six new slots games
  * Establishment of finance management system
  * Appointment of senior business development and marketing personnel

New Developments

  * Launch of GVC Poker planned for July 2005

Commenting on the first quarter results Steve Barlow, CEO, said:

'These results are comfortably ahead of our initial plans. With cash conversion
continuing to be extremely strong, we anticipate paying a dividend at the half
year in line with our commitments made during the IPO in December.'

Date of next results

The Company's year end is 31st December. As the Company only started trading on
21st December 2004, its first set of final results will be for the period to
31st December 2005. As such, the directors do not feel it is appropriate to hold
an annual general meeting this year as there are no accounts to approve.
Accordingly, the Company will hold its first annual general meeting in May 2006.
The Company will release audited interim results for the six month period ending
30th June 2005 later this year.

For further information contact:

Steve Barlow, CEO                                020 7554 1400
Robert Willis, CFO                               020 7554 1400
Ken Cronin, Gavin Anderson & Company             020 7554 1442 / 07887 591 499
Robert Speed, Gavin Anderson & Company           020 7554 1427


Note to Editors

Gaming VC Holdings SA (AIM: GVCq.L) is a leading online casino games operator,
with an annualized handle in excess of Euro 2 billion. The majority of its
existing customers come from German speaking countries. The company listed on
the Alternative Investment Market in December 2004. Gaming VC Holdings also owns
two magazines, Casino Club and Roulette. Through these unique marketing and
information magazines it is able to attract and retain casino games players.



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