Mobile Gambling Group Probability Moves to Gibraltar
Oct 15, 2010
Probability plc, a software producer that specializes in developing mobile casino games, has left Aldernary and is on its way to Gibraltar, becoming the first online gambling company to receive a new license from the jurisdiction since 2008.
Probability says the move will allow them to save costs and improve operational margins. The company is expanding thanks to a recent explosion of interest in mobile phone gambling. Recent revenue growth is also attributable to increased spending on marketing and customer retention.
Wagers on Probability’s mobile casino games were up 55 per cent in September over April, with total cash deposited by players up 27 per cent over the same period. The group’s sites also saw an 11 per cent rise in players.
The latest product update released by Probability was the addition of iPhone casino games. The product, called ‘Touch Casino’, was launched in July. The group says that 12 per cent of all cash deposits already come from iPhone users.
The new Gibraltar license means that mobile gambling sites powered by Probability software, like LadyLucks Mobile Casino, can now be included on the UK’s famous “white list” of trusted gambling sites.
Charles Cohen, CEO of Probability, explains that further growth can be expected. “There remains a huge amount of opportunity for us as consumers shift their behaviour towards mobile devices such as the iPhone, Android and tablets such as the iPad and Blackberry’s recently announced PlayBook. You are going to see Probability making a strong play into all of these devices and markets.”
Shares in Probability plc reached a 52 week high of 60.50 pence after the announcement was made.
Tags: Android, Casino game, Charles Cohen, Entertainment, Gambling, Gibraltar, iPhone, mobile devices, Mobile gambling, Mobile phone, Mobile telecommunications, Online gambling, pence, Probability plc, software producer, Technology, United Kingdom