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Probability (PBTY) Mobile Casino Gambling Audited 2011 Update

Aug 10, 2011

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Probability Plc (AIM: PBTY) is a mobile casino gambling specialist which today provided the audited results.

During 2011, Probability (AIM: PBTY), the mobile casino software provider, has moved location, raised additional working capital and has significantly increased its player base according to the latest released report.

In 2011, Probability plc moved it base of operation to Gibraltar, and saw significant growth in revenues while raising additional capital and restructuring the company to optimize cost savings.

Net gaming revenue was up in 2011 to £5.37m from 2010 figures of £4.72m, a healthy 14% increase. During the first quarter, the net gaming revenue was 45.3% higher, signifying that better times are still ahead.

Probability’s continuous growth, turbo charged by the unveiling of new games for iPhone casinos and Android casinos users, is expected to continue as more games are unveiled later in the year. The overall investment in the Probability mobile gaming platform has also increased the overall return.

During the first three months of 2011, Probability mobile casino games registrations grew by 175,000 new mobile customers. Between January 1 – March 31 2010 till 2011 the overall initial deposits have grown by 54%.

Total cash wagers of £116m in the year to March 31 2011 were 25% higher than in the year to March 2010.

iPhone and Android customers represented 37% of in-game deposits in March 2011. This figure has continued to increase since the end of the period.

Probability CEO Charles Cohen stated: “We made real strides this year, generating operating profits in the last quarter as we enjoyed the first benefits of lower operating costs following our move to Gibraltar and increasing our customer acquisition for LadyLuck’s – Smartphones have also made a huge impact on our business this year, helping to turn mobile from a niche to a mass market opportunity.”

“Toward the end of the year, we were able to progress our plans for an Italian gaming licence and close a groundbreaking deal with Caliente in Mexico, one of the largest and most respected gaming groups in Latin America.”

“Going forward, our monthly fixed overheads in the UK and Gibraltar are significantly lower than they were a year ago. Combined with additional margin improvements in our trading activity, our business model is stronger than ever. With consumer appetite for smartphones and mobile services seemingly insatiable, the sun is shining for us.

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