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Charles Cohen, CEO at mobile gambling specialist provider Probability plc announced half year 2008 pre-tax profits of GBP 166 000 this week, an impressive turnaround from the same period in 2007 when the company recorded a loss of GBP 585 000. Cohen used the opportunity to reveal that the company will be expanding into unspecified markets overseas with its LadyLuck mobile casino offering.
Membership has now grown to over 400 000 mobile customers at LadyLuck, resulting in a soaring net gaming revenue, up 117 percent to GBP 2.6 million for the six months to end September 2008. The casino offers bingo and slots and over the past year has grown rapidly, thanks to major distribution agreements with some of the UK mobile phone giants.
Commenting on his typical player, Cohen said: “We are a different business to the major online brands because we are after a different customer. If we tried to sell a high roller mobile casino product to our users at the moment I suspect it would fail. I think that’s the reason the major online brands have not done it yet, because they know those customers are not there yet.”
He added that the company’s focus on low stakes gaming aimed at the mass market uniquely positions it to continue expanding despite difficult economic times. “During these difficult times, we appear to be enjoying a ‘Lidl effect’ as consumers look for value in their entertainment as with everything else," he said. "Being immediately available on their mobile phone, at 10p a spin, we are in the right place at the right time to capture these customers."
Cohen does not appear to favour the adoption of white label strategies, saying: “My whole take on this issue is that the customers that are spending low stake money on the mobile [phone] are not the online [Internet] customers. For me to get into business with networks or operators would mean losing the key advantage we have over everybody else, which is a different customer.”
Gambling News :
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Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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