A victim of the recession? Perhaps.
Gaming VC powered online casino SlotsClub.com is to shut down the end of this month. The closure is yet another blow to the online gambling hotspot of Malta, which has witnessed a number of Web-based casinos, poker and sports betting sites fail over the past year.
Gaming VC seemed to be doing well, however, claiming in a public statement last month that average daily revenues in Q4-09 had increased by 30% from the same period last year to EUR166k (Q4-08 EUR128k).
The Group had EUR18.3 million in cash at bank at close of business on Friday 11 December. Gaming VC has already paid EUR12.5 million in dividends during 2009.
Gaming VC runs 7 other online gambling sites in addition to SlotsClub.com including BetBoo.com.
Christopher Costigan, Gambling911.com Publisher
