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Probability PLC 60 percent rise in total net gaming

Written On  4/20/11 By 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 :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

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