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Probability

  • BY: Andrew Hore |
  • POSTED: 22/04/2008 |

Mobile phone gaming company probability increased its new customer acquisition rate in its fourth quarter.

It added 62,930 new customers during the quarter to the end of March 2008 – also the company’s financial year end. That acquisition rate is 33% higher than the previous quarter.

Net gaming revenues rose by one-quarter to £1.16m. New games include Crazy Camels, a virtual camel racing game.

It didn’t all go Probability’s way. A VIP customer made a profit of £211,000 on mobile Blackjack, but at least this provides good coverage for the company.

Probability is already trading with Rank subsidiary Blue Square. It has added Mecca mobile bingo to this relationship. The deal with The Sun has been extended to News of the World.

Trading continues to boom and probability is taking 1.5 bets per second on average. Money raised earlier this year has been put into marketing. Net cash was £2.8m at the end of March.

Profits look set to be better than expected in 2008-09 and the shares jumped 3.5p to 69p.

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