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Probability Revenues up Q2-2012
Tuesday October 23,2012 : REVENUES UP AT MOBILE GAMBLING TECHNOLOGY PROVIDER
Probability reports over 35 percent revenue growth in Q2-2012
Mobile gambling technology provider Probability plc issued a trading update Tuesday, advising that net gaming revenue soared 35.3 percent in the period ended September 30 2012, reaching GBP 2.3 million (Q2-2011: GBP 1.7 million).
Deposits from players in the period were 44 percent higher than the same period last year.
Operational highlights of the quarter included:
* iPhone App for "Lady Luck's" has been downloaded over 40,000 times since being introduced in June 2012, and is regularly in the top five downloads in the category in the UK App Store.
* In Italy, the company’s Playyoo subsidiary has launched an iPhone and iPad football betting application for SNAI, to coincide with the opening of the Italian football season. Betting volumes have been higher than expected in this new market.
* The slot game "Long John's Silver" for iOS and Android devices was launched during August, becoming the quickest game to achieve GBP 1 million of total bets, achieved in under two weeks.
* Partnership inked with Nasdaq-listed Glu Mobile to develop mobile gambling games and services based on its popular mobile games.
Commenting on the trading update, Probability CEO Charles Cohen said:
“We are very pleased with the performance this quarter. Our customers did not appear overly distracted by the Olympics, but then we did all spend a lot of time in front of the TV waiting for events to start – a perfect opportunity to have a quick play with our games.
“The Playyoo business which we acquired in the summer is developing well, with existing Italian B2B clients expanding the range of poker games they take from us and new clients showing strong interest in the offering.
“Preparations are on track for our Slots games to be introduced into Italy later this year and we hope to begin the certification process very soon. A small amount of revenue from Playyoo is included in these results for the first time, and we expect this contribution to grow significantly over time.
“In the UK market, our investment in new customer acquisition through TV and other digital media has continued to deliver encouraging results in line with expectations."
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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