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Monday 28th January 2008
Mobile gambling specialist Probability plc has announced that its net gaming revenues for last year’s third quarter rose by 38 percent to just over $1.82 million.
Probability provides gambling games including casino games, bingo and slots to customers on their mobile phones and also stated that total customer numbers also increased by 22 percent to 276,000.
According to The Financial Times newspaper, Probability did not enjoy the easiest of starts on the London Stock Exchange as it was hit by fallout from America’s Unlawful Internet Gambling Enforcement Act (UIGEA) just a week after listing. However, a business model backed by the market and rising revenues has seen the mobile phone gambling specialist grow in confidence.
Charles Cohen, Chief Executive for Probability, said that the ‘overall climate for mobile gambling in the UK had continued to improve’ and predicted that the company would deliver a strong second-half performance.
'The gambling sector is traditionally defensive and I believe that, while the credit crunch may be keeping people away from the shops, many of them seem to be very happy to play our slots, bingo and roulette games on their mobiles instead of tramping up and down the high street,' said Cohen.
The company also reported that trading over the festive period had been exceptionally strong with up to 9.5 bets being placed per second on December 23.
Source: OnlineCasinoNews
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