Gaming Ventures plc
PLUS : GAMP

March 10, 2008 11:28 ET

Gaming Ventures Plc: Unaudited Interim Results for the 6 months ended 30 November 2007

LONDON, UNITED KINGDOM--(Marketwire - March 10, 2008) -

CHAIRMAN'S STATEMENT

The Chairman presents his statement for the period ended 30 November 2007.

This is the first Interim report for Gaming Ventures Plc ('GV' or 'the Company').

During the period, the new law covering internet gambling came into force (the Gambling Act), it has created a significant opportunity for the Company's internet bingo product, BigHeartBingo.co.uk. The Act allows properly licensed gambling web sites to advertise in the UK and as a consequence, major bingo brands have been advertising heavily on mass media including prime time TV. This has encouraged a surge in internet bingo players overall, in turn this has benefited BigHeartBingo which is recruiting over 1,000 new users a month through search engines (we are top page of Google worldwide for the 'charity bingo' search term) and affiliates.

At the same time, we have been working to recruit charity partners for our online bingo operations. Recently we announced the signing of an agreement with the Roy Castle Lung Cancer Foundation, the UK's world renowned lung cancer research charity (see www.bigheartbingo.co.uk/roycastle). In addition we have received similar approval from Cats Protection, the UK's leading cat charity. We have also signed up our first international charity, a wildlife rescue organisation headquartered in the USA with a worldwide supporter base which illustrates the international potential for our product, unfortunately US residents are restricted from playing on BigHeartBingo.

Our mobile phone product, Shouting Duck casino, has proved more difficult to promote than we expected because the main marketing method, SMS messages, is not yet accepted amongst phone users in the same way as e mails or direct mail. We are in the process of re-evaluating our SMS campaigns with a view to using internet and direct mail alternatives.

Play4Sport, our sports casino is in the final stage of redevelopment and we expect to launch the product on a new combined mobile and internet platform in the next three months.

In the meantime we have been identifying business opportunities in gaming and media, making use of the extensive international contacts of our Board members, particularly in the new markets of Eastern Europe and the Balkans. We hope to be able to announce new initiatives in the near future.

SUBSEQUENT EVENTS

In January 2008 the Company issued 1,750,000 new ordinary shares which were placed at 5p per share (net) raising 87,500.



GAMING VENTURES PLC PROFIT AND LOSS ACCOUNT (UNAUDITED)
FOR THE PERIOD ENDED 30 NOVEMBER 2007.
Pounds Sterling

Turnover: 124

Cost of sales 0

Gross profit 124

Administrative expenses 294,991
Amortisation of goodwill 36,424
Operating loss (331,291)
Interest receivable 5,032
Interest payable 0

LOSS ON ORDINARY ACTIVITIES AFTER TAXATION (326,260)

LOSS PER SHARE 0.49p


GAMING VENTURES PLC BALANCE SHEET
AS AT 30 NOVEMBER 2007.
Pounds Sterling
FIXED ASSETS

Equipment 8,678
Goodwill 682,907

CURRENT ASSETS

Debtors
0

Cash at bank 79,169

Creditors : amounts falling due within one year (24,805)

NET CURRENT ASSETS 54,364

TOTAL ASSETS LESS CURRENT LIABILITIES 745,949

CAPITAL AND RESERVES

Called up share capital 324,536

Share premium account 937,964

Profit & Loss Account (516,551)

SHAREHOLDERS' FUNDS 745,949

NOTES:

1. The Company was incorporated on 11 May 2006.
2. The Directors have decided that no interim dividend will be payable.
3. The financial statements have been prepared in accordance with normal
accounting practice and were approved for issue by the Board. The
financial information included in this document has not been audited and
does not comprise statutory accounts within the meaning of section 235 of
the Companies Act 1985.
4. The Directors of Gaming Ventures plc accept responsibility for this
announcement.


ISIN: GB00B1VR4482/GBP/PLUS-exn

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