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A solid quarter for Probability plc

A solid quarter for Probability plc
Specialist mobile gambling provider Probability plc has released its trading update for the second quarter ended September 30 2011, showcasing strong growth in cash player numbers and overall player spend, and delivering a 38 percent year-on-year increase in quarterly revenues.
The company reports that growth in smartphone usage continued, and that it has launched its next generation mobile bingo product.
Highlights in the update include:
◦ Net Gaming Revenue of GBP 1,702,000 for the quarter, an increase of 38 percent on the same period last year (Q2 2010/11: GBP 1,232,000).
◦ Total money deposited by players into gambling accounts with the company during the quarter was 61 percent higher than in the same quarter last year.
◦ Number of active cash players in the quarter increased by 44 percent compared to the same quarter last year.
◦ Of new players who registered in the quarter, 50 percent were playing on an iPhone, iPod, iPad or Android device. Services for these devices were introduced during Q2 2010.
◦ Combined with the previously announced unaudited trading results for the first quarter, total Net Gaming Revenues for the first half of the current year were approximately GBP 3.27 million, 42 percent higher than the first half of the previous financial year.
Management said that the company’s new generation mobile bingo product had been successfully launched in August 2011, revitalising a game that has been one of the most popular with players. The new service is available to iPhone and Android customers, who now make up half the company’s active user base.
The new version has a more modern interface and a number of new features including the ability to pre-buy tickets for future games, rollover jackpots and promotional games with discounted or free entry. Chat moderation, including quizzes for customers, will be managed by the Probability’’s Gibraltar subsidiary.
Probability CEO Charles Cohen said: “This was a great quarter for us, delivering solid growth despite the summer holiday period which is usually weak.
“As well as Bingo, we have been delighted by the response to a trial TV advertising campaign for our core Lady Luck’s brand. This is now a highly scalable marketing opportunity and we are exploring how we can expand this over the coming months to continue to build on the strong momentum we already have.”

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