Probability revenues up after white-label growth

AIM-listed operator Probability has seen revenues increase by 38% year-on-year, the mobile specialist has announced in interim figures for the six months ended 30 September.

Growth has been boosted by an increase in the number of its white-label clients, with half of its 29 live customers recruited in the last six months and deposits from white-label players up 45% compared to the first half last year.

However, despite a revenue increase, from £3.27m to £4.53m, the business recorded a pre-tax loss of £658,000, with £275,000 of this total related to the July acquisition of Italian-facing mobile business Playyoo.

Probability was given the green light this week to offer online slots for the dot.it market, having secured an Italian licence last month, and explained in a statement: “We are planning to introduce a white label offering in the Italian market to complement our existing B2B service in the UK, at the earliest opportunity.”

Since the end of the second quarter, revenues have begun to arrive from Italian B2B partners such as Snai, Cogetech and Neomobile, all of whom were previously customers of Playyoo, and the operator suggests full-year GGR will be somewhere between £9 to £10m.

Chief executive Charles Cohen said: “Our ability to grow will no longer be constrained by the size of the market or the limited scope of regulation in our main markets. We have the proven technology, the expertise, the regulatory status, the talent and the resources to take a sizeable portion of what will clearly be a major part of the global gambling business over the next few years.

“We are rapidly building Probability to be both big and profitable, a balanced and truly international leader in regulated gambling markets,” Cohen added.