As reported by: Netimperative
Gaming Corp raised £520,000 through a share placement today and plans to use the money together with funds raised earlier in the year to make an acquisition.

"When the right acquisition comes along we'll buy it and it will more than likely be in the area of online casinos" a spokesperson for the company said.

Gaming Corp's online casino business has been responsible for the massive swell in revenue it has seen in the last year, according to a spokesperson. The company signed an agreement with casino operator Boss Media in September 2002 to provide it with a bespoke online casino.

The move took the company, which had previously focused on operating gaming portal www.casino.co.uk deeper into the market for online casinos, providing it with a number of games to offer customers, including blackjack, roulette, video poker, slot machines and jackpots.

Announcing results to 30 September 2003, Gaming Corp reported a turnover of

£8.6m, up from £842,000. It saw a pre-tax loss of £733,534 compared with a pre-tax loss of £2.5m last year.

"We believe if we increase turnover to between £13m and £15m we'll have a profitable casino and that's possible within the next financial year," the spokesperson said.

Gaming Corp also plans to expand its market beyond its traditional heartland in the UK. "Our customer base is still in the UK but we are now looking to expand beyond that," the spokesperson said.