Probability Figures Up Thanks To Smartphones

Following a spike in smartphone usage Mobile gambling specialist Probability experienced a 14% increase in its revenues “its CEO said this morning, helping to turn mobile from a niche into a mass market opportunity”.

For the year ended on 31st of March it disclosed its full year audited results. Charles Cohen said Probability ”upped its ante this year” since it decided to relocate to Gibraltar. This was a smart month since it resulted in “lower operating costs”, an increase in the usage of iPhone and Android as well as an increase in customer acquisition for LadyLuck’s-the group’s principal UK facing brand. These are the main contributing factors that caused its NGR to increase by a hefty 14% to £5.37m in comparison to £4.72m in 2010 for the same period.

In the last quarter of this financial year NGR was 45.3% higher as opposed to the same period of the previous financial year, the mobile internet casino’s latest release read in a statement to the stock exchange. Probability signed up 175,000 new mobile player registrations in the year while spend per player improved with average deposits per depositor 54% higher than in the year to March 2010, due to “improved real-time mobile CRM and enhanced game portfolio”, it said.

On the whole the overall loss before tax came to £1.1m, this amount incorporated the move to Gibraltar and the company’s restructure which cost in excess of £700,000. The company’s “nucleus clientele offering” increased rapidly in the second half, augmented by the introduction of new casino games for iPhone and Android users, and an increased marketing stratagem subsequent the completion of a planned investment in its proprietary mobile gambling technology. In March 2011, 37% of in-game deposits were represented by IPhone and Android customers. Probability said that this figure has “continued to increase since the end of this period”.

Business experienced a bumper increase in its revenues for the month of July, for the first time more than £1m in cash deposits were made by players. It also concluded a deal with a Mexican-based casino, racing and bingo specialist Grupo Caliente, enabling Probability to provide its mobile offering to players situated within the Latin American market.

Cohen concluded, as a result of “considerably lower” monthly fixed expenses in the UK and Gibraltar counting in supplementary margin improvements in its trading activity that its business model was “better than ever”. “With consumer enthusiasm for smartphones and mobile services rapidly increasing, we are in a very fortunate position indeed,” he added.