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 a 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 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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