Mobile Games Provider On LSE
Published: Friday, September 01, 2006 Online-Casinos.com
MOBILE GAMES PROVIDER JOINS LONDON STOCK EXCHANGE
GBP 4.1 million raised in AIM placing
Mobile gambling technology company Probability Games was successfully floated on the AIM section of the London Stock Exchange this week - the first mobile gaming operator to do so.
The company started trading on 24 August following the placement of ordinary shares at a price of 76p per share. This placing raised GBP 4.1million (US$7.8 million) before expenses, an endorsement of the company which operates casino, bingo and lottery games and payment services for mobile phones. It offers minimum stakes of ten pence, and aims to appeal to casual gamblers.
London based Probability Plc was founded in 2003 by dot com entrepreneurs Charles Cohen and John Scaife. It was backed initially by one of the UK's leading investors and went live in 2004. The service has proved commercially successful with over 20 million wagers taken to date. This public acclaim has been recognised with the winning of the E-Gaming Review "Mobile operator of the year" award in 2005.
Probability Plc was also the first mobile operator to be awarded a mobile gambling license from Alderney earlier this year.
