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SNOW CONTRIBUTES TO RECORD QUARTER FOR PROBABILITY PLC

Posted 1/11/11 : Probability Plc on the upswing with positive third quarter trading update
 
Mobile gambling firm, Probability PLC released pleasing third quarter results for its investors in a quarterly trading update this week.
 
 
Key Performance Indicators for the three months to 31 December 2010 were reported as:
 
-     Strong growth in customer deposits and activity with December 2010 setting records for both player deposits and wagering activity.
 
-     Player deposits in the quarter to 31 December 2010 were 35 percent higher than in the previous quarter to 30 September 2010.
 
-     Players using iPhone and Android devices accounted for 27 percent of deposits in December 2010. These services fully launched only in August 2010.
 
-     Net Gaming Revenue in the quarter to 31 December 2010 was GBP1,482,000, an increase of 20 percent on the previous quarter to 30 September 2010 (GBP1,232,000).
 
-     Net Gaming Revenue in the quarter to 31 December 2010 was 30 percent higher than during the same period in 2009.
 
-     The Company acquired 48,102 new players in the most recent quarter, compared to 39,190 in the previous quarter, an increase of 22 percent quarter-on-quarter.
 
Adverse weather conditions are said to have benefitted the Company during the quarter with specific emphasis on snowy days being its busiest period.  An internal analysis of trading data undertaken by the Company found that the days with the worst snow during December had, on average, 15 percent more wagering activity than days without snow.
 
Charles Cohen, Probability plc CEO, commented:
 
“This was a record quarter for Probability. It seems that the snow helped, and our hunch is that customers were turning to their mobiles for entertainment when they found themselves stuck at home or elsewhere.
 
Either way, what matters to us are the underlying trends which show that this business is on the right side of powerful technological and behavioral changes as people increasingly direct their attention to smart phones and tablets.
 
The best demonstration of this is the rapid take-up of our services on the iPhone. These users are now approaching 30 percent of our business, from a standing start in August. We have had great success in managing the upgrade path for players who buy an iPhone or Android device and want to take their gambling account with them.
 
We are uniquely positioned to take advantage of this trend, particularly as we will be operating from a lower cost base than before once we transfer our operations to Gibraltar from Alderney, and are able to explore opportunities in Italy and elsewhere from there."

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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