Probability's grows white label business as B2C falters
Mobile operator targets expansion of B2B services in Italy and UK for growth as B2C revenues fall 9% quarter on quarter
Mobile gambling firm Probability has reported strong growth in its B2B business during the second quarter of its financial year, with revenues from its platform services now accounting for 57% of total income.
The London-based company revealed this morning that overall net gaming revenues stood at £1.9m, an increase of 4% compared to Q1, but revenues from its B2C arm fell by 9% from the previous quarter, due largely to a spate of big wins.
Revenues from B2B operations, including UK white label managed services and UK and Italian facing platform services, were 47% higher than the preceding quarter. The firm highlighted the potential of its new white label business in Italy along with new product rollouts to existing customers as drivers for future revenue growth during the next six months.
Probability said in a statement that “decisive steps” have also been taken to address the challenges the B2C business has experienced, including the appointment of a new chief commercial officer, Michael Byrne, William Hill’s former head of mobile.
It added that its new iOS app for core B2C brands, Moobile Games, was listed as the number one downloaded free casino app in UK App Store during its first week of launch.