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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 :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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