United Kingdom mobile gambling company Probability plc has announced strong second quarter results in its most recent financial report.
In its most recent report ending June 30th, 2011, Probability plc reported growth in player registrations and deposits which were aided by the addition of new games, efficient target marketing to owners of smartphones, as well as increased white label choices.
The report featured the following statistics:
- Second quarter deposits were up 82.6% over last year.
- Net Gaming Revenue was up 45.6% over last year, standing at £1,572,000.
- More wagers than ever were processed in June, with the highest total average of 17 bets per second occurring on the evening of June 29th.
- Android and iPhone devices accounted for 42% of income during June, which was up 37% from three months prior.
- Three new white label brands were launched in the second quarter.
Commenting on the company's strong quarter, Probability CEO Charles Cohen said, “This was a great quarter again for us; we grew player deposits and numbers despite this being the Bank Holiday season, launched more white labels and progressed our relationship with Caliente, our first engagement outside Europe."
“Sharp eyed investors will note that Net Gaming Revenue for the quarter was slightly below that in the previous quarter, despite the increase in player deposits. This was due to a number of customers winning £10,000 – £20,000 each on some of our more popular Slots during May and June. The payouts were however within the expected parameters of the games and are in themselves no cause for concern. Big winners in a business like ours are something to celebrate, and some of the lucky winners have agreed to publicity."
“We have now completed the move of our operations to Gibraltar from Alderney and, post the end of the previous financial year, are enjoying significantly lower fixed overheads than a year ago. This means that in our core business we are generating cash as we continue to grow revenues.
“During the next quarter, we are expecting to launch our new mobile Bingo product after nearly six months development. This product is in the late stages of testing and regulatory approval.”
In addition to the positive statistics, a deal was announced with Tijuana, Mexico based Grupo Caliente, which has interests in Bingo, racing and casino games in Latin America. As part of the agreement, mobile gambling services will be offered to players in Latin America utilizing Caliente's gambling licenses.
The agreement takes advantage of Caliente's market recognition in Mexico in Latin America. Customer service and operations will be based in Mexico, with additional services by Probability being based out of Gibraltar.
The full report can be viewed at: http://www.probability.co.uk/news/trading-update-q1-201112/