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Mobile Gambling Group Probability Raises Money for Expansion

Nov 19, 2010

Probability PLC is an online company which specializes in producing mobile casino games.

The group is listed on London’s AIM market. They announced this week the placement of 4,600,000 new ordinary shares of GBP0.01 each, raising £2.3m from new and existing investors. The funds will be used to help fuel the expansion of Probability’s services.

“We are delighted to have received the overwhelming backing of our shareholders for this Placing and to welcome a number of new shareholders, including several institutions, to our business,” said Probability CEO Charles Cohen. “The new resources will be used to help us accelerate our expansion not just in the UK but internationally as we look to newly regulated markets particularly in Europe.”

“We feel more confident than ever now of our ability to harness the mobile internet and smartphone boom for mobile gambling,” Cohen said.

Probability’s current product line includes a collection of nearly 20 mobile games, including a new range of titles designed to work on Apple’s iPhone, iPod Touch and iPad devices, as well as Google Android smartphones. Probability-powered LadyLucks Mobile Casino is now one of the few mobile gambling sites to offer Apple iPad gambling.

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