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Mixed Results for Probability

Tuesday August 21,2013 :  PROBABILITY DELIVERS MIXED BAG OF RESULTS
 
And chief executive officer resigns
 
Mobile gambling services firm Probability plc faired marginally better in its year ending March 31, 2013 results compared to its 2012 showing.
 
Key performance highlights include:
 
-     Net gaming revenues of GBP 8.6 million (FY12: GBP 7.2 Million), a 20 percent increase
-     Turned in an EBITDA profit of GBP 41 000 compared to last year's loss of GBP 360 000.
-     Overall loss for the year was GBP 0.6 million (FY12: GBP 0.5 million). This figure includes share option charges, depreciation and amortisation totaling GBP 0.5 million (FY12 GBP 0.2 million).
-     Cash and cash equivalents at 31March 2013 GBP 3.4 million (31March 2012: GBP 1.8 million).
-     Average Revenue per User (“ARPU”) from B2C active players in the year of GBP 161, a 7 percent increase on previous year.
-     55 percent of Platform Gross Revenue derived from business-to-business (“B2B”) services (FY12: 44 percent).
 
The company said it has reined in marketing spend in anticipation of what it terms major product launches for its next generation HD Slots and Casino HTML5 games in the first two quarters of its 2014 fiscal year.
 
In a trading update, Probability reported lower first quarter net gaming revenues of GBP 1.8 million compared to the same period in 2013, which it attributes to lower investment in customer acquisition, although it says this has since picked up.
 
Probability revealed its focus lies in "innovative, distinctive games with pure mobile “DNA” being at the heart of the Company’s strategic vision" saying it will also continue to grow B2C through investment in acquisition and promotion and are further investing in the development of its own affiliate programme.
 
Charles Cohen, co-founder and CEO of Probability, said:
 
"We are pleased overall with our performance in FY13, delivering 20% revenue growth and a positive adjusted EBITDA despite having taken some tough decisions which were entirely necessary in order to position Probability for the next phase of growth in the mobile gambling market. Sometimes you need to take a pit stop for new tyres and fuel."
 
In related news, Probability's chief operating officer Matthew Sunderland will leave the company to pursue "opportunities outside of the UK".
 
No replacement is planned with Sunderland's functions distributed amongst other senior managers that include the newly appointed head of B2B Glenn Elliot.



Gambling News :

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

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