Strong Trading For Probability
Wednesday January 16, 2013 : PROBABILITY ENJOYS STRONG TRADING
Intends expanding bespoke game service
Mobile gambling firm Probability plc turned in pleasing results in a trading update covering the October 1, 2012 to December 31, 2012 period.
Key performance highlights include:
• Net Gaming Revenue in the quarter of GBP 2.29 million, a year-on-year increase of 22.5 percent (Q3 FY11/12: GBP 1.88 million).
• Deposits from players in the period were up 12 percent on the same quarter last year and December 2012 proved to be a record month for deposits from B2C customers in the UK.
• Registrations of B2C customers in the quarter were 35 percent higher than the same quarter last year, reflecting the Company's increase in marketing investment in the UK market during the period.
• B2B contributions showed strong growth with Italian B2B customer’s revenues constituting 43 percent of total B2B income in the quarter.
• Total B2B revenues were 207 percent higher than the same period last year.
The company reports good results from its first bespoke slot game "40 Shades of Santa" developed in exclusive partnership with Paddy Power saying it exceeded management expectations. Probability expects to expand its exclusive content offering to more customers in the UK and Italy during 2013.
Charles Cohen, chief executive officer of Probability, commenting on the results said:
“We have maintained the momentum which we developed during the first half of the year.
“We are achieving positive ROI on our marketing investment in our UK B2C business after around six months and demand from B2B and White Label is strengthening.
“The contribution from Italy is very encouraging and there are opportunities for even more growth once our slot games are approved under regulations which came into force in December. The agreement we announced in January with Lottomatica further demonstrates our technological leadership in mobile gambling."