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Tough Times For Brit mobile gambling specialist Probability

Probability has seen better years...
Quarters 1 and 2 of financial 2010 have not been the best of times for the Brit mobile gambling specialist Probability plc, judging by its latest numbers covering the six months from April to September.
In an interim statement CEO Charles Cohen reported a pre-tax loss of GBP758 000 over the six months ended September 30, but is confident that the company can halt the slide in the new year.
“Our results in the first half include costs related to the acquisition of a new remote gambling license in Gibraltar, the setting up of a new operational centre there, and restructuring of our UK and Alderney teams as a consequence. As a prudent accounting policy we have chosen to expense all of these items into this period.
"The net result is that from October 2010 we are operating from a decreasing fixed cost base. The savings will be even greater from March 2011 when we plan to surrender our Alderney licence and all of our services will be operated under our Gibraltar licence,” he said, adding that the loss had been anticipated by Management.
Net gaming revenue of GBP2.31 million (2009: GBP2.47 million) was recorded.
The company introduced its "Touch" mobile casino for iPhone and Android platforms during the period, and made important investments in technology and marketing. The statement also noted a significant b2b deal with Paddy Power through which Probability is providing mobile gambling content.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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