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INCREASE IN MOBILE GOOD FOR PROBABILITY RESULTS
Wednesday August 10, 2011 : iPhone and Android services represent 40 percent of the business – having only been launched fully in August 2010.
Mobile gambling and live online casino provider Probability plc reported its audited results for the year ended March 31, 2011 this week.
The company's fiscal year saw it moving its operations to Gibraltar, a company restructure and the launch of new services which its significant revenue growth in the second half has been attributed to.
Key points include:
- Net Gaming Revenue up 14 percent to GBP 5.37 million (FY2010: GBP 4.72 million).
- NGR was 45.3 percent higher in Q4/2011 compared to Q4/2010
- The overall loss for the year was GBP 1.1 million (before tax) after fully expensing one-off items which included the move to Gibraltar and consequent restructuring (GBP 700,000).
- Cash resources were GBP 2.85 million at March 31 2011 (March 31 2010: GBP 1.64 million)
- In October 2010 the Company raised GBP 2.3 million (after expenses) through a placing of new ordinary shares, in order to fund further expansion.
- The company's core customer offering grew rapidly, boosted by the introduction of new games for iPhone and Android users in the second half.
Core Business Highlights include:
- 175 000 new mobile customer registrations.
- Increased spend per player: average deposits per depositor in the year to March 31 2011 were 54 percent higher than in the year to March 2010, due to improved real-time mobile CRM and an enhanced game portfolio.
- Total cash wagers of GBP 116 million in the year to March 31 2011 were 25 percent higher than in the year to March 2010.
- iPhone and Android customers represented 37 percent of in-game deposits in March 2011.
Current Trading Update:
- Strong trading in the company's new fiscal year with July 2011 delivering record revenues exceeding GBP 1 million in cash deposits from players for the first time.
Charles Cohen, CEO, Probability plc commented on the results:
“Combined with additional margin improvements in our trading activity, our business model is stronger than ever. With consumer appetite for smartphones and mobile services seemingly insatiable, the sun is shining for us.
“With trading in the new financial year already looking very strong, with new product launches planned for this year and increased interest in our B2B offering, we have every confidence that we can turn our first mover advantage into a serious and sustainable market position in regulated markets globally.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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