Red Ink for Mobile Gambling Specialist Probability

Published Sunday, December 05, 2010 -

It’s not been a easy time for the online gambling industry and not all companies are doing really well. Firms that were once doing very well were stripped bare by the USA prohibitions and some have bounced back with tremendous results others are still recovering slowly but surely.
One such company that has been struggling of late but still has a constant hope that it will be making some serious progress is the U.K. based mobile gambling specialist Probability plc. 
Posting a net loss is never easy for a company and the first half of 2k10 says the books are in the red by a pre-tax loss of £758 000. Probability has a half decade of experience in the field and at least a million customers in the United Kingdom. There are a variety of mobile games such as poker, slots and other casino games including bingo on over almost all mobile devices including iPhones and iPads. The company has their central operation center in Gibraltar where a responsible support team handles any difficulties that may arise.
Charles Cohen, Chief Executive Officer of Probability, said, “Our results in the first half include costs related to the acquisition of a new remote gambling license in Gibraltar, the setting up of a new operational centre there, and restructuring of our UK and Alderney teams as a consequence. As a prudent accounting policy we have chosen to expense all of these items into this period.
The net result is that from October 2010 we are operating from a decreasing fixed cost base. The savings will be even greater from March 2011 when we plan to surrender our Alderney licence and all of our services will be operated under our Gibraltar license.”

Just last month the company announced it had raised 2.4 million GBP from new investors. It also was revealed that it has signed a significant deal with Paddy Power to provide internet games and content.




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