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Probability plc has posted its full year results

Wednesday August 29,2012 :  PROBABILITY PLC REPORTS FY 2011-2012 LOSS
 
Mobile gambling company numbers hit by share option charges and depreciation in the year to 31 March 2012
 
Mobile gambling specialist Probability plc has posted its full year results to end March 2012, noting that:
 
* Net Gaming Revenue rose 34 percent to GBP 7.2 million (FY2011: GBP 5.4 million).
 
* Overall loss incurred for the year of GBP 550,000, a reduction of 47 percent from the previous period due to share option charges and depreciation totalling GBP 169,000. The company also invested over GBP 800,000 in marketing in the last quarter of the financial year.
 
* Total net assets at 31 March 2012 of GBP 2.23 million (31 March 2011: GBP 2.69 million).
 
* The company completed the acquisition of Playyoo SA, a privately held Swiss company, for an initial consideration of  2,404,415 new Ordinary shares in Probability. Playyoo owns and operates technology which enables companies holding Italian remote gambling licenses to
offer mobile sports betting and casino services to consumers.
 
Management reports that trading in the core UK consumer and business-to-business operations has been strong since the end of the financial year.
 
Player deposits in July were at their highest ever in a single month and Probability did not experience any decline in activity by consumers during the Olympic Games.
 
The company has also for the first time been allowed to offer its games to UK customers through the Apple App Store. The "LadyLuck's" app is available free to customers. Several Playyoo games are also available in the Italian App store, branded for their Italian B2B customers.
 
Probability chairman, Graham Parr, has advised the Board of his intention to retire from the Board at the next AGM, to be held in September. The Board is currently in the process of recruiting a replacement and will make an announcement prior to the AGM.
 
Rocco Pellegrinelli, who has served as a non-executive director of Playyoo since founding the company in 2008, joined the Board of Probability as a non-executive director in July 2012.
 
CEO Charles Cohen said that he was "...confident of continued growth as we begin to deliver strong margins at scale which our business model is predicated upon."

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Gambling News :

More Computers Smashed in Online Gambling Raids - More computers seized in police online gambling raids were trashed Monday when the Serdang police destroyed 1,312 machines to keep them out of circulation.

2017 Aussie Millions Event 1 - The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.

Swiss Reject idea to Block Gambling Websites - The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.

Growth Ahead For Online Gambling - Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.

New Qubit software For SkyBetting - #qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.

Slotfather II Slot Launching - #betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..

Massachusetts Online Lottery Bill - Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.

Italy Doing Well With Online Sports betting - The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.

Michigan To Reintroduce Online Gambling Bill - #Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.

MGM Buys DC office building For lobbying team - #MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.

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