Probability Q3 2011 Record numbers with Mobile gambling
Probability plc, the AIM listed mobile gambling services specialist, is pleased to update investors on trading in the three months to 31 December 2010. Probability Q3 numbers were the strongest in company history with a 20% increase in revenues and a 22% increase in new customer acquisition.
The strong growth in customer deposits and activity which started in the second quarter of this financial year has accelerated into the third quarter, with December 2010 setting records for both player deposits and wagering activity.
Player deposits in the quarter to 31 December 2010 were 35% higher than in the previous quarter to 30 September 2010 (unaudited).
Players using iPhone and Android devices accounted for 27% of deposits in December 2010. These services fully launched only in August 2010.
Net Gaming Revenue in the quarter to 31 December 2010 was £1,482,000 (unaudited), an increase of 20% on the previous quarter to 30 September 2010 (£1,232,000 unaudited).
Net Gaming Revenue in the quarter to 31 December 2010 was also 30% higher than during the same period in 2009.
New customer acquisition also improved during the period. The Company acquired 48,102 new players in the most recent quarter, compared to 39,190 in the previous quarter, an increase of 22% quarter-on-quarter.
Influence of Weather Conditions On Trading
An internal analysis of trading data by the Company, supported by anecdotal information from customers, suggests that adverse weather conditions benefitted the Company during this period. Specifically, snowy days were the busiest in the period.
The strongest weather correlation found was that the days with the worst snow during December had, on average, 15% more mobile gambling activity than days without snow.
Charles Cohen, Probability plc CEO, commented:
“This was a record quarter for Probability. It seems that the snow helped, and our hunch is that customers were turning to their mobiles for entertainment when they found themselves stuck at home or elsewhere.
Either way, what matters to us are the underlying trends which show that this business is on the right side of powerful technological and behavioral changes as people increasingly direct their attention to smartphones and tablets.
The best demonstration of this is the rapid takeup of our services on the iPhone. These users are now approaching 30% of our business, from a standing start in August. We have had great success in managing the upgrade path for players who buy an iPhone or Android device and want to take their gambling account with them.
We are uniquely positioned to take advantage of this trend, particularly as we will be operating from a lower cost base than before once we transfer our operations to Gibraltar from Alderney, and are able to explore opportunities in Italy and elsewhere from there.
As the trading update confirms, this is going to be a very exciting period for us.”