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Net Gaming Revenue Up
Britain's listed mobile gambling provider Probability plc had good news for investors in its trading update this week, which showed that second quarter 2008 net gaming revenues have grown 10 percent despite the traditionally quiet nature of the period.
Financial highlights in the update presented NGR up 10 percent on the same period last year to GBP 1 373 427, with 56 297 new customer signups, half of them during the month of September. Gross margin improved to 73.69 percent (Q1 2008: 69.15)
CEO Charles Cohen pointed to the firm's first roll-out of 3 Network phones containing pre-installed links to Probability's LadyLuck brand (see previous InfoPowa report). The project will see 2 million handsets released over the year.
Mobile advertising relationships have been established with T-Mobile and O2, bringing access to 95 percent of the present UK mobile population, and a new corporate website has been launched to improve communications with shareholders at Probabilityplc.com
The first day of the newly launched Italian Job Racing game saw more than 50 000 virtual car races run.
Cohen said: "In a situation where some of the latest mobile games can cost upwards of GBP7, and there are Lottery scratchcards costing GBP2, the free download of a game such as Bingo! or The Italian Job, with stakes starting from 50p, gives customers fantastic value for money and the chance to win thousands in prizes on their mobile.
"Probability is continuing to build momentum. During the quarter we saw the successful launch of 'King Creole Slots' and 'Italian Job Racing' games under license from Paramount Pictures. We are highly confident in the prospects for our business, and we believe that our strategy for growth as a pure-play mobile gambling service is the right one."
London stockbrokers Collins Stewart said the firm was “in a compelling strategic position” to take advantage of its position as “mobile gaming supply remains limited” and the firm can leverage the distribution and marketing agreements it has with networks such as 3, T-Mobile and O2.
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Gambling News :
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 -
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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.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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