Trading Update

Gaming VC Holdings S.A.
11 July 2006

                      
Press release                                                       11 July 2006

                            Gaming VC Holdings S.A.

                         ('Gaming VC' or 'the Company')

                            Pre-Close Trading Update


Gaming VC, a leading European online casino provider, today announces the
following trading update for the 6 month period to 30 June 2006. The Company is
pleased to announce that trading in the first six months has been strong with
like-for-like Key Performance Indicators (KPIs) demonstrating continued growth.
These results remain in line with market expectations.

New registrations for the 6 months to 30 June 2006 were 26,900 compared to
13,200 for the 6 month period to 30 June 2005, a 104% increase. 12,760 new
depositing customers were recorded in the six month period compared to 8,115 in
the same period of 2005, a 57% increase. Unaudited net revenue in the six month
period was €21.1 million, and 9.3% ahead of net revenue of €19.3 million for the
six month period to 31 December 2005.

As stated in the Company's preliminary results that were issued in April 2006,
marketing spend on the Spanish casino has remained low as the cost of new player
acquisition in this territory has proven to be unacceptably high. In accordance
with the Company's strategy, further investment will continue to focus on the
Company's core German speaking market as well as the development of Eastern
European markets.

The Directors are pleased to report that the Company's soft launch in Russia has
been encouraging. However, until the Company is more certain that further
investment into Russia will yield satisfactory results for shareholders,
marketing expenditure will be maintained at an appropriate level.

Gaming VC confirms that it does not operate within the US, hence the above
results do not reflect any wagering activity within the USA.


Commenting on the performance for the six months to 30 June 2006, Steve Barlow,
Chief Executive of Gaming VC, said: 'This solid performance demonstrates the
robustness of our casino in German speaking markets as can be witnessed by
increases in both new registrants and new depositors. The Company has also made
continued progress in developing other markets, noticeably Russia. I am pleased
to report that, following our effective marketing campaign during the period,
the Football World Cup held in Germany appears not to have had any significant
impact on our performance. The Company remains on target to deliver 2% revenue
growth per month over the course of the year. I look forward to updating
shareholders at our interim results in September.'


                                    - Ends -


For further information:
Gaming VC Holdings S.A.
Steve Barlow, Chief Executive                      Tel: [phone]
                                                   www.gamingvc.com
   
Media enquiries:
Abchurch
Chris Lane / Chris Munden                          Tel: [phone]
[e-mail]                      www.abchurch-group.com




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