|Mobile telephone gaming specialist Probability has revealed a 25 percent increase in net gaming revenues for the fourth quarter and raised hopes that it may deliver above average full-year profits if progress continues.|
The results were ahead of expectations for the London-based firm as it announced almost 63,000 new customers for the year’s final quarter in which it raised $3.36 million in additional capital. The company stated that the funds were raised through the placing of over three million shares, meaning that it now is in a strong cash position with $5.54 million in the bank.
“The second half of 2007 has proven to be a period of transition for us,” said Charles Cohen, Chief Executive Officer for Probability.
“We have delivered on our promises to become a cash-generative leader in the mobile gambling sector and created a platform for strong, future growth.”
Cohen highlighted a $417,747 win during the quarter by one customer and stated that this indicates serious gamblers can be found in the mobile gambling business.
“The exceptional winning streak for a single customer should leave no doubt that serious gamblers can be attracted to the mobile phone platform,” said Cohen.
“Winners are the best advertisement for a gambling business.”