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Probability Releases Quarterly Results

Mobile wagering software provider Probability plc has released its quarterly trading update for the period April 1st through June 30th, 2012, highlighting increased revenues amidst increased player deposits.

Key financial indicators for the period ending June 30th were:

  • Net Gaming Revenue of £2.26 million, 44% higher than the same quarter last year;

  • Player deposits up 44% on the same quarter last year, indicating a stable operating margin;

  • Acceptance of the company’s “LadyLuck’s” iPhone software into the Apple App Store for the UK;

  • New television advertising campaign launched on UK TV channels performing in line with management expectations.

Commenting on his company's performance, Probability CEO Charles Cohen said: “This has been a solid quarter despite being a traditionally seasonally weak period in the year."

“We continue to see growth in our consumer and B2B businesses, with strong demand from players for gambling content designed specifically for mobile. In particular we are very pleased with the way our TV marketing has scaled and also some initial results from the new Facebook mobile advertising platform."

“Getting into the App Store was a nice surprise after many, many, months in review by Apple. The long term impact of this on our business can’t be predicted but early signs are good. The App is a free download and allows people to create or access their LadyLuck’s account in the normal way, playing with and for real money on their iPhone, iPod or iPad. No fees or commissions are paid to Apple by us or by players for use the games in the App.”

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