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Probability

  • BY: Andrew Hore |
  • POSTED: 05/07/2011 |

Mobile gaming operator Probability says that player deposits were 83% higher year-on-year.

Probability reported its trading figures for the April-June 2011 quarter and they show that smartphones account for 42% of revenues. Three new white label brands were launched during the quarter.

Net gaming revenue was 46% higher on the year before at £1.57m, although it was slightly lower than the previous quarter because of some large wins.

The move to Gibraltar has helped to reduce costs. 

Probability has signed an agreement with Grupo Caliente in Mexico. The first service will launch later this year.

A new bingo game is planned and Probability is also applying for an Italian gaming licence.

At 58p a share, up 11p, Probability is valued at £15.6m. Daniel Stewart estimates a £200,000 loss for the year to March 2011 and forecasts a profit of £1.3m in 2011-12. The shares are trading on 12 times 2011-12 prospective earnings.

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