iPhone Income Rises For Probability

Probability has seen its iPhone gaming revenues increase, in its latest press release it mentioned that it would change its jurisdiction from Alderney to Gibraltar for tax purposes within the next couple of years.  The company is also listed on the AIM and has notified its shareholders and clients that it will move its operations from Alderney to Gibraltar once the market is” more conducive”.

According to the company’s latest press release it mentioned its innovative new Touch Casino product specifically designed for the iPhone range, it’s set to take the market by storm and seen as one of the main contributors in increasing its overall gaming revenues”.  Last month alone saw iPhone clients constituted 12.3% of all cash deposits; the company has launched this service in July only.

A free download Android App has also been introduced by Probability this month.  Potentially wise the Android device’s current market potential could exceed that of iPhone” within the next couple of years according to mobile industry analyst iSuppli, it could have a 19% stake in the mobile market as early as 2012 in comparison with a estimation of 16% for Apple.  The company is exited and the figures to date have been seen as very encouraging.

The Chief Executive, Charles Cohen said: “The Company is seeing the fruits of its strategic initiative pay off over an 18 month period; all we can hope now is a sustainable long term profitable platform for Probability”

“The market is relatively unexploited since most iPhone, iPad, Blackberry and Android users are only beginning to tap into it.  We can only hope that consumers will gear toward mobile devices more within the near future.  We’re set to make millions of dollars from this new initiative and Probability will make huge in rows into this segment of the egaming market.”

The overall cash deposits made by players in September are 27.1% higher in comparison to April 2010.  The overall gambling bets made during the month of September are 54.9% higher than those made in April 2010, in comparison to April the previous year the total number of players for September was 11.2% higher.

Thanks to its new technological innovations and improvements the company has seen a significant decline in its overall operating costs.  Potentially costs would be further reduced since Probability has been awarded a remote gambling licence by the government of Gibraltar its first new licence since 2008.

This is the “cherry on the cake” for us the fact that we’ve just received our Gibraltar licence, Cohen said and will place us in a completely new income bracket in the egaming sector; it will also equip us to tap into a highly skilled labour force and a more cost-effective tax government”.

Presently Gibraltar is a tax haven for 19 other internet casino vendors of which the more famous are Ladbrokes, 888.com, PartyGaming and William Hill. The move to Gibraltar has been a strategic one and will hold business-related remuneration and “overall cost reduction” in its daily operational proceedings as the business grows.

Probability Limited’s chief operating officer, Glenn Elliott has moved to Gibraltar and would be the managing director of the company.  Elliot is exited and has resigned as board member of Probability to take up his new position within the company.

Probility Limited (Gibraltar) has a new non-executive chairman in the likes of John Anderson. Since January 2007 he was non-executive director of 888 Holdings and has been the company’s chief executive for seven years.  Other positions held by him are: chairman of the Interactive Gaming Council, board member of the international player protection and standards organisation eCOGRA and as a director to internet bookie 10Bet, lastly but not least chairman of Burford holdings, which is a privately held property investment company.