London-based mobile telephone gambling specialist Probability has announced its interim first-half results showing pre-tax profits of $273,053 after reporting a pre-tax loss of $962,152 last year.
The firm stated that net gaming revenues rose 117 percent to $4.27 million for the six months before September 30 while its net cash was listed at $4.11 million, up from last year’s $1.64 million.
The mobile casino, bingo and slots game operator revealed that it now has over 400,000 customers for its LadyLuck’s gaming service and has provided white-label services to partners including Rank under the guise of BlueSquare and Mecca along with News International’s The Sun and News Of The World.
“We are delighted with these results and the breakthrough into profit,” said Charles Cohen, Chief Executive Officer for Probability.
“This has put us into a very strong position for further growth with continued investment in new content and plans for international expansion.
“As a pure mobile gaming operator with a focus on low-stakes ‘betertainment” aimed at the mass market, we are uniquely positioned to take advantage of consumer fatigue with online gaming, boredom with the lottery and the often uninspiring and overpriced traditional mobile games on offer today.
“During these difficult times we appear to be enjoying a ‘Lidl effect’ as consumers look for value in their entertainment as with everything else. Being immediately available on their mobile phone, at ten pence a spin, we are in the right place at the right time to capture these customers.”
“As well as expecting to continue our strong growth in the UK market, we are making ambitious plans to expand LadyLuck’s into selected overseas markets and to push ahead with our aggressive product development plans. This is just the beginning for Probability.”