PROBABILITY Q3 EASES
5 February 2010
NGR down 8 percent on previous quarter
Probability plc, the UK mobile gaming technology
specialist reported in a trading update this week that
that its latest Q3 performance displayed a
quarter-on-quarter drop in net gaming revenues of 8
percent to GBP 1.13 million.
Management
attributed the easing to "higher withdrawals running up
to Christmas" while the number of new registered players
for the quarter fell by just over three percent to 47
089.
Probability had net cash and equivalents of
GBP 1.91 million - down from GBP 1.96 million at the
conclusion of its second quarter.
The company's
star game was the new X Factor branded slot title, which
attracted over GBP 2.5 million in wagers during the
period when interest was especially high due to the
screening of the live shows.
Charles Cohen, the
chief executive at Probability said: "As we expected,
net gaming revenues were slightly lower than the
previous quarter as players cashed in their winnings in
November to finance their Christmas expenditure.
"We were buoyed by the success of the X Factor slots
game toward the end of the quarter, which saw
significant traction through December as the live
televised finals progressed.
"December trading
all round was very encouraging with record bets taken
and net gaming revenues 30 percent higher than November,
which followed a strong month in October.
"We
were very pleased that the new server capacity in which
we have invested was online in time for this busy period
and ensured that our systems performed well, giving
players a great experience and handling a record number
of mobile bets."
Probability also released an
update on its investment programme revealing that it has
"been largely completed and is already starting to have
a beneficial effect on revenues and margins". The plan
will enable the firm to expand with "greater speed and
in more ways than would otherwise have been possible."
"Our plans were accelerated following changes in the
market environment, which have opened considerable new
opportunities for us," read a statement from
Probability.
"In particular, the uptake of the
iPhone and the Google Android platforms have shifted
consumer expectations of mobile services generally and
significantly improved the prospects for mobile
gambling.
"Our newly created higher margin
business-to-business division is also experiencing
strong demand from eGaming businesses and online sports
books for a "˜white-label' offering from Probability to
allow them to address these opportunities themselves,"
Cohen concluded.
Online Casino News Courtesy of
Infopowa
More news here.
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