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Probability (AIM: PBTY) Confirms William Hill (LSE:WMH) Buyout Talks

Sep 20, 2011

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Probability plc has confirmed recent rumors about a possible takeover of the mobile casino software developer by William Hill.

The Gibraltar licensed mobile casino gambling operator, Probability plc (AIM:PBTY), has responded to recent rumors of talk with online gambling operator William Hill Plc (LSE:WMH) and speculations of a possible offer to buy the mobile casino operator.

In a terse press release, Probability, who operates LadyLucks Mobile Casino, admitted that the company is indeed in preliminary discussions which may or may not lead to an offer for the company.

Probability states that “In accordance with Rule 2.6(a) of the Code, William Hill must, by not later than 5.00 p.m. on 17 October 2011, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer.”

According to mobile gambling news, the phenomenal rate of the growth of the mobile casino gambling industry has not gone unnoticed by established traditional and online gambling operators.

Industry analysts have reported that the mobile gambling market in 2015 will be worth 5.4 billion euros ($7.4 billion US) , achieving a compound annual growth of 19.3 percent.

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