Strong NGR growth for Probability

Mobile games specialist Probability has seen its net gaming revenue climb by 45% year-on-year, the company announced in a trading update for the three months ended 31 March (Q4).

The NGR figure of £1.613m is also up 9% on the third quarter total (£1.48m), while player deposits rose by 82% year-on-year, building further on the record deposits in the previous quarter.

Probability also revealed is has begun the application process for an Italian gambling licence in the light of the publication of the country’s Comunitaria decree in March, while in February it moved its gaming operations from Alderney to Gibraltar.

KPIs for the full financial year ended 31 March revealed that monthly fixed operating costs were down 16% year-on-year, while NGR rose by 15% largely thanks to a strong second half of the year.

CEO Charles Cohen (pictured) called strong growth and reduced costs “encouraging signs for the future”, adding that he believed lower operating costs in Gibraltar made growth sustainable.

He added that “As most of our costs are fixed, we expect margins in the core business to increase as revenues grow.”

Smartphone usage also continued to bear fruit for Probability with 37% of in-game deposits coming from iPhone and Android users in March, compared to 27% in December.

This follows the success of Probability’s iPhone games ““ first launched in July ““ with the Apple device described as the “most significant single contributor of new revenues” in last October’s trading update.

Following the launch of the Sweet Treats slot game in Q4, Cohen also revealed the company would “shortly be launching a new bingo product which will be the first ever to be made available for all types of mobile device, including iPhones, iPods and Android devices as well as more traditional feature phones”.

A Q&A with Probability CEO Charles Cohen will appear in the forthcoming issue of eGaming Review. For a free trial subscription, click here