Online Casino Transfer: News - Probability Reports Losses

08/15/2010		Online Casino Style: News Probability Reports Losses
Home History Games News Dictionary		The online gambling company Probability plc has the unfortunate responsibility of revealing their losses for the last fiscal year, which ended on March 31st of 2010 for the firm. A company based out of the United Kingdom, Probability has been a brand name growing in recognition in the last 18 months, developing in particular their mobile gambling technology and specializing in online casino use on the go. They did report, in spite of the growth, losses for both net gaming revenue, and total year end profits. For their fiscal year, losses before taxes managed to increase dramatically from just £153,000 to an alarming £755,000 for this year. Compounding the damage was a drop in revenue, with net gaming money coming in at just £4.7 million, a loss of £300,000. Probability released the summary and statement this week, blaming the losses on a series of important investments the firm made over the course of the year in technology upgrades, a choice they say will be essential in the years to come. Highlights of the investments and partnerships made include an agreement signed with Paddy Power, another powerful internet gambling company, as well as the introduction of a new Spanish language site branded Ring Ring Juegos. Still money money was poured into the latest tech venue, as funds were invested in the launch of several products designed for iPhone and similar products. There were some positive points in the report, such as the fact that players’ gross win was up 18 percent for individual gamblers. A milestone was struck with the 500 millionth mobile gambling transaction completed during the same fiscal year. Deals with four mobile in the networks will see the launch of Lady Luck’s internet casino to millions more players. Company chairman Graham Parr released a statement with the fiscal summary, saying, “With countries such as Italy and France now looking to allow more providers in, we are optimistic of being able to build on our reputation from the UK market to achieve even greater reach.”

08/15/2010

Online Casino Style: News
Probability Reports Losses

The online gambling company Probability plc has the unfortunate responsibility of revealing their losses for the last fiscal year, which ended on March 31st of 2010 for the firm. A company based out of the United Kingdom, Probability has been a brand name growing in recognition in the last 18 months, developing in particular their mobile gambling technology and specializing in online casino use on the go. They did report, in spite of the growth, losses for both net gaming revenue, and total year end profits.

For their fiscal year, losses before taxes managed to increase dramatically from just £153,000 to an alarming £755,000 for this year. Compounding the damage was a drop in revenue, with net gaming money coming in at just £4.7 million, a loss of £300,000. Probability released the summary and statement this week, blaming the losses on a series of important investments the firm made over the course of the year in technology upgrades, a choice they say will be essential in the years to come.

Highlights of the investments and partnerships made include an agreement signed with Paddy Power, another powerful internet gambling company, as well as the introduction of a new Spanish language site branded Ring Ring Juegos. Still money money was poured into the latest tech venue, as funds were invested in the launch of several products designed for iPhone and similar products.

There were some positive points in the report, such as the fact that players’ gross win was up 18 percent for individual gamblers. A milestone was struck with the 500 millionth mobile gambling transaction completed during the same fiscal year. Deals with four mobile in the networks will see the launch of Lady Luck’s internet casino to millions more players.

Company chairman Graham Parr released a statement with the fiscal summary, saying, “With countries such as Italy and France now looking to allow more providers in, we are optimistic of being able to build on our reputation from the UK market to achieve even greater reach.”