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Probability PLC 60 percent rise in total net gaming

Written On  4/20/11 By Recentpoker.com staff writer  Lenny Wasman :

60 percent rise in total net gaming revenues for financial year
 
Mobile telephone gaming specialist Probability plc has released trading results for its fourth quarter and financial year showing a 60 percent rise in total net gaming revenues to GBP 5,056,236.
 
Highlights of the report include:
 
* Net gaming revenues from January to the end of March 2011 of GBP 1,126,543
 
* Net gaming revenue up 45 percent year-on-year
 
* Monthly fixed operating costs were down 16 percent year-on-year
 
* 49,506 new customers registered in the three-month period to take total numbers to 248,667.
 
* Long term partnership signed with 888's b2b wing, Dragonfish.
 
* 37 percent of in-game deposits came from iPhone and Android smartphone users in March, compared to 27 percent in December.
 
Chief executive officer Charles Cohen told shareholders:
 
“Since the start of March, we have experienced a strong upswing in customer activity both in terms of utilisation and new customer registrations spearheaded by the launch of 'Grease' slots across all networks and to our player base of over 400 000 customers.
 
“This game was an immediate hit, taking two million individual bets by new and existing players in the first month alone.
 
“This momentum has continued into April. Average daily net gaming revenues in the first half of April of 2009 was approximately 22 percent higher than the equivalent daily average across the whole of January of 2009.
 
"New customer acquisitions were twelve percent higher on the same basis.
 
“Most encouragingly, the average total deposits per cash player per day was 83 percent higher in the first half of April of 2009 than the equivalent figure for the whole of January of 2009.
 
“In 2009, we had anticipated that demand in January and February would be weak compared to the previous quarter as was the case in previous years but compounded by the recession. The return to growth and profitability in March of 2009 shows that we were right to maintain our disciplined approach to marketing and to continue to invest in new products to attract and retain customers in this tough environment.”
 
The report reveals that Probability has moved its operational base to Gibraltar from Alderney, and that it has applied for Italian market licensing.
 
Cohen also revealed that his company would “shortly be launching a new bingo product which will be the first ever to be made available for all types of mobile device, including iPhones, iPods and Android devices as well as more traditional feature phones”.



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