Probability signs agreement with freemium mobile developer
Deal will see brands of Nasdaq-listed Glu Mobile used on real-money mobile slots.
Mobile gambling business Probability has entered into a strategic relationship with Nasdaq-listed developer Glu Mobile which will see it develop a series of real-money gambling games based on Glu’s existing freemium brands.
Initially targeting the UK and Italy, where Probability increased its presence through the acquisition of Playyoo in July, brands such as action games Contract Killer and Gun Bros will be added to the operator’s existing portfolio alongside flagship brand LadyLuck’s Casino, which was added to the iTunes App Store in June.
The slots will also be made available to Probability’s real-money partners such as Ladbrokes and Paddy Power, and CEO Charles Cohen (pictured) said he was confident that the titles, some of which have in excess of one million downloads in their freemium non-slot form “Will appeal to our customers as well as those of our B2B clients.”
Describing Glu as “[A] leader in the freemium mobile gaming industry,” Cohen said: “We look forward to deepening our relationship with Glu as we seek to expand our regulatory reach to new markets worldwide.”
Glu Mobile CEO Niccolo de Masi said: “We believe that mobile gambling momentum is beginning to accelerate on a global basis, and with this deal Glu becomes an early mover. We anticipate that as additional markets around the world open up to real-money mobile gaming we will expand our investment in the subsector.
“We view real-money mobile gaming as an opportunity to extend the reach of our successful original IP to new demographics, as well as deepen engagement and rewards for our players,” added de Masi.
The agreement is the first signed by Probability since the appointment of technology industry veteran Mike Shinya as its new non-exec chairman.
Retaining his firm’s ‘Buy’ recommendation, analyst Ivor Jones of Numis explained: “Gambling and gaming are different businesses with different business models and players with different priorities. We are encouraged to see Probability finding a low cost, low risk way to dip its toe in gaming waters.
“We believe that Glu will, in due course, become a white-label B2B customer of Probability and have its own licensed mobile casino based primarily on its own IP,” he added.