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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 :

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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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