by Renee Israel
Probability, the mobile gambling group which is listed on the Alternative
Investment Market of the London Stock Exchange, saw its net gaming revenues
boosted by 35% year on year, thanks to the growing number of smartphone users.
As such, when posting its trading update recently, which covered the last
year, Probability saw its net gaming revenues climb to £7.3 million year on
year.
Probability Mobile, posting its financial report, said that the
results were in line with management expectations.
76% of the group's customers are now smartphone users - a huge increase from
30% only a year ago.
The last three months of the year were also record-breaking for Probability
Mobile in a number of areas.
"We broke previous records for player deposits, turnover and business to
business revenues this quarter," said the Chief Executive Officer of the group,
Charles Cohen.
Probability Provides Mobile Games to Top Groups
In the last three months of the year, Probability also signed a number of
"significant" contracts with top gambling groups.
"During the fourth quarter, the company's games were made available to
William Hill customers through its mobile site," said the group in a statement.
"Existing services with Paddy Power and Rank Group continue to perform
strongly."
In addition, a deal signed with the leading UK bookmaker, Ladbrokes is in the
"process of being integrated" and "awaiting launch."
Looking a bit further abroad, Probability completed the setup of software for
Caliente, a leading Mexican gaming operator, and the parties are now awaiting
regulatory approval.
Probability is also involved at present in the process of applying for a
license to supply its award winning technology to gambling operators in the US
state of Nevada.
"Internationally, as more markets open to regulated activity including
individual states in the United States, we see chances for business to business
licensing and business to consumer/'white label'," said CEO Charles Cohen.
"These are exciting times to be in the market."
Probability Mobile Looks Ahead
Looking ahead to the rest of this year, Cohen is optimistic.
"2012 is going to be a big year for us and for mobile gambling as well," he
said. "There is a land grab underway for the mobile gambler, most of whom we
believe will be new players who are not currently gambling on the web. Our
regulated business to consumer and 'white label' business is ideally positioned
to exploit this opportunity."
Cohen said that, at the same time, web-based operators are discovering the
benefits of this new mobile market. Probability's expertise in this space, he
said, combined with its "privileged regulatory position" and "technical
capabilities" are able to support a business to business proposition which has
already demonstrated strong traction and which has excellent prospects.
