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LadyLuck’s mobile casino continued to drive the growth of owner Probability in the last six months, as revenues increased 38% to £4.53m.
The company also had its best-ever month for customer deposits during the month of August, as the widely mooted Olympics effect failed to dent trading, despite the company reducing marketing spend during the Games.
The Gibraltar-based mobile B2C and B2B business however fell to a pre-tax loss of £658,000 in the six months to the end of September due to spending £1.87m on a TV-led marketing campaign for LadyLuck’s and costs associated with its buy of Italian mobile provider Playoo.
The company however said the timing of the acquisition and grant of an Italian licence ahead of the launch of online slots there this week left it in strong position to capitalise on contracts with operators SNAI, Cogetech and Neomobile and by eventually adding more white-label partners.
In the UK, the period saw its iPhone app accepted in the Apple App Store, while its B2B games performed strongly for mobile market leaders Paddy Power and William Hill.
Probability CEO Charles Cohen, quoting Google Mobile Planet data showing that 75% of its 18-29 prime demographic in the UK now owns a smartphone, said: “We remain determined to capitalise on our first mover advantage in mobile gambling and we believe this market is now at a tipping point.”
William Hill has been widely tipped to make another takeover approach for Probability should it decide to exercise its option to buy out Playtech’s 29% stake in William Hill Online in February.
Hill’s JV partner, which acquired Scandinavian mobile supplier Mobenga in July last year, is understood to have exercsised its power of veto written into the companies agreement to block Hill’s approach for Probability last November.
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