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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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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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