Sept. 2 (Bloomberg) -- Gaming VC Holdings SA, owner of the Casino Club online betting brand, declined the most in 20 months in London trading after saying talks on a possible takeover bid for the company ended.

Gaming VC fell 26 pence, or 14 percent, to 166.5 pence, the steepest fall since December 2006, trimming the Luxembourg-based company's market value to 51.8 million pounds ($92 million). The shares have jumped 80 percent this year.

The unidentified party that made a preliminary approach announced in April has said it won't make an offer, Gaming VC said today in a statement. Gaming VC is considering a request for representation on the board from Audley Capital Management Ltd., which has a 29.3 percent stake, the statement said.

Chris Lane, an external spokesman for Gaming VC at Abchurch, declined to name the bidder or comment on why the talks failed. Gaming VC ``would look to maintain its current policy on returns to shareholders going forward,'' he said.

Gaming VC, which made almost 90 percent of its sales in Germany and Austria last year, plans to maintain its ``solid'' position in German-speaking countries, expand in markets including Italy and introduce new products such as bingo, Lane said. The company ``is continuing to trade in line with market expectations,'' the statement said, without giving details. Gaming VC may also buy back shares, it said.

To contact the reporter on this story: Peter Morley in London on pmorley1@bloomberg.net

Last Updated: September 2, 2008 11:48 EDT