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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."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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