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ENCOURAGING RESULTS FROM MOBILE GAMBLING OPERATOR

Tuesday July 5, 2011 : Probability reports soaring deposits and new players
 
The UK mobile gambling specialist Probability plc has issued a Q1 2011 trading update with some very positive results from the period April 1st 2011 to 30th June 2011 inclusive.
 
Management reports that the company has continued to experience strong top line growth in player acquisition and player deposits, boosted by new games and white label offerings, along with effective marketing spend targeting smartphone users.
 
A deal in Latin America is also announced.
 
Core business highlights include:
 
* Player deposits in the quarter were 82.6 percent higher than the same quarter in the previous year.
 
* Net Gaming Revenue was, at GBP 1,572,000, 45.6 percent higher than the same quarter in the previous year.
 
* iPhone and Android devices increased to 42 percent of income during June 2011, up from 37 percent three months ago.
  
* Record wagers were processed in June 2011 with a peak of 17 bets per second during the evening of June 29th. June 2011 also saw the highest ever level of player deposits for a single month.
  
* Three new white-label brands were launched during the quarter with new commercial partners.
 
During the quarter, Probability entered into a commercial agreement with Grupo Caliente, a long established gaming group based in Tijuana, Mexico with interests in casino, racing and Bingo in Latin America. Under the agreement, which is the first of its kind for Probability, the company’s mobile gambling services will be offered to players in Mexico and Latin America under Caliente’s local gambling licenses.
 
The first service, planned for Mexico itself, is expected to launch during 2011. Customers in Mexico will be able to play the full range of Probability mobile Bingo, slots and casino games across all mobile platforms and networks.
 
The new offering will have a local brand designed to leverage the high brand recognition of Caliente in this market. Customer services and operations will all take place in Mexico, with Probability providing additional services from its operational centre in Gibraltar.
 
The agreement allows Probability and Caliente to extend the offering into other countries in Latin America as these become available.
 
In Italy, the company has applied for a licence in its own name, but has nothing further to report at this stage.
 
CEO Charles Cohen said in his report:
 
“This was a great quarter again for us; we grew player deposits and numbers despite this being the Bank Holiday season, launched more white labels and progressed our relationship with Caliente, our first engagement outside Europe.
 
“Sharp eyed investors will note that Net Gaming Revenue for the quarter was slightly below that in the previous quarter, despite the increase in player deposits. This was due to a number of customers winning GBP10,000 – GBP20,000 each on some of our more popular Slots during May and June. The payouts were however within the expected parameters of the games and are in themselves no cause for concern. Big winners in a business like ours are something to celebrate, and some of the lucky winners have agreed to publicity.
 
“We have now completed the move of our operations to Gibraltar from Alderney and, post the end of the previous financial year, are enjoying significantly lower fixed overheads than a year ago. This means that in our core business we are generating cash as we continue to grow revenues.
 
“During the next quarter, we are expecting to launch our new mobile Bingo product after nearly six months development. This product is in the late stages of testing and regulatory approval.”

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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