Probability Suffers Revenue Drop Despite Italian Growth

Mobile gambling company Probability has suffered a 13% year-on-year drop in net gaming revenue for the 13 weeks through to December 31, 2013, despite experiencing significant growth in revenue for its Italian operations.

The firm posted net gaming revenue of £2 million (€2.4 million/$3.3 million) for the third quarter of 2013, down from £2.3 million in the corresponding period last year.

Despite the drop, revenue on a quarter-to-quarter basis was up 5.1% following improvements in Probability’s core B2C operations.

Elsewhere, gaming margins in B2C remained stable at 4.8% against the previous quarter win margin of 4.9%, while wagering volume per active player in B2C was 3% higher than Q2 and 16% higher than the corresponding quarter last year.

Player acquisition costs also fell 37% per new customer in comparison with the preceding quarter.

In addition, Probability also claimed that revenues from its Italian operations grew by 36% in comparison with the second quarter of 2013.

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