Mobile telephone gambling specialist reports a rise in revenues despite sluggish summer economy.
Wednesday 15th October 2008
London-based mobile telephone gambling specialist Probability has announced that its net gaming revenues grew ten percent over the last three months to almost $2.4 million despite the traditional summer slowdown.
Probability revealed that net gaming revenues for its most recent financial period came in at $2.39 million, which was up on the previous quarter’s $2.17 million despite the industry normally seeing business become more sluggish over July and August.
Listed on the Alternative Investment Market of the London Stock Exchange, Probability also revealed that 56,297 new customers registered over the period with half of these signing up in September. In addition, the firm revealed that it’s future looks good as it generated net profits.
“We believe that we could be enjoying a ‘Lidl effect’ in our business,” said Charles Cohen, Chief Executive Officer for Probability.
“We offer a value proposition to our customers and, if people are feeling the pinch elsewhere, we think the signs are we can benefit from the downturn. Just as consumers are moving from established supermarkets to discounters like Lidl, so they are seeking value when they gamble.
“In a situation where some of the latest mobile games can cost upwards of twelve dollars and there are Lottery scratch cards costing $3.50, the free download of a game such as Bingo! or The Italian Job with stakes starting from 87 cents, gives customers fantastic value for money and the chance to win thousands in prizes on their mobile.
“Probability is continuing to build momentum. During the quarter we saw the successful launch of King Creole Slots and Italian Job Racing games under license from Paramount Pictures. We are highly confident in the prospects for our business and we believe that our strategy for growth as a pure-play mobile gambling service is the right one.”
London-based mobile telephone gambling specialist Probability has announced that its net gaming revenues grew ten percent over the last three months to almost $2.4 million despite the traditional summer slowdown.
Probability revealed that net gaming revenues for its most recent financial period came in at $2.39 million, which was up on the previous quarter’s $2.17 million despite the industry normally seeing business become more sluggish over July and August.
Listed on the Alternative Investment Market of the London Stock Exchange, Probability also revealed that 56,297 new customers registered over the period with half of these signing up in September. In addition, the firm revealed that it’s future looks good as it generated net profits.
“We believe that we could be enjoying a ‘Lidl effect’ in our business,” said Charles Cohen, Chief Executive Officer for Probability.
“We offer a value proposition to our customers and, if people are feeling the pinch elsewhere, we think the signs are we can benefit from the downturn. Just as consumers are moving from established supermarkets to discounters like Lidl, so they are seeking value when they gamble.
“In a situation where some of the latest mobile games can cost upwards of twelve dollars and there are Lottery scratch cards costing $3.50, the free download of a game such as Bingo! or The Italian Job with stakes starting from 87 cents, gives customers fantastic value for money and the chance to win thousands in prizes on their mobile.
“Probability is continuing to build momentum. During the quarter we saw the successful launch of King Creole Slots and Italian Job Racing games under license from Paramount Pictures. We are highly confident in the prospects for our business and we believe that our strategy for growth as a pure-play mobile gambling service is the right one.”