Probability PLC reports bigger loss on back of decreased revenues

Probability plc, the UK-based mobile gambling technology provider, has reported widening losses for the year and lower net gaming revenue. Over the year ended March 31, pre-tax losses grew from £153,000 in the previous year to £755,000 currently, with net gaming revenue declining £300,000 to £4.7 million.

In a statement this week, Probability attributed the loss to "strategic investment in technology" and pointed to its b2b agreement with Paddy Power, the launch of the Spanish language website Ring Ring Juegos and the release of iPhone games.

Gross win per cash player climbed 18%, whilst the firm boasted its 500 millionth mobile gambling transaction during the fiscal year. The company also reported successful distribution deals with the Orange and '3' mobile networks in the UK for its LadyLuck's mobile casino brand.

"With countries such as Italy and France now looking to allow more providers in, we are optimistic of being able to build on our reputation from the UK market to achieve even greater reach," company chairman Graham Parr said.

Source: InfoPowa News