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Probability

  • BY: Andrew Hore |
  • POSTED: 17/10/2010 |

Mobile gaming provider Probability is moving its base to Gibraltar.

The new remote gambling licence for Gibraltar provides access to a skilled workforce and better tax regime. Costs should be reduced and margins improved. Operations will be transferred from Alderney to Gibraltar. Glenn Elliott has moved to Gibraltar and taken up the role of managing director of this business. John Anderson, a director of 888, will be a director of the new Gibraltar company.

New products are helping revenues to grow. The number of players has risen by 11% in the five months to September. Total wagers placed has jumped 55% between the same months.

House broker Daniel Stewart forecasts a rise in revenues from £4.7m to £7.1m in the year to March 2011. This should be enough for the company to move into profit.

At 54.5p a share, Probability is valued at £11.8m.

Download the October edition of AIM Journal at http://www.hubinvest.com/AIMPDFOctober2010_13.pdf

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