Probability plc reports strong quarter

The UK mobile gambling provider Probability plc has released its trading update for 1 April 2012 to 30 June 2012, reporting good progress and soaring revenues and player deposits.

The company’s Q1-2012 highlights included:

• Net Gaming Revenue of GBP 2.26 million, 44 percent higher than the same quarter last year;
• Player deposits up 44 percent 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.

Chief executive Charles Cohen reported to shareholders:

“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.”