Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Probability, Glu Mobile Sign Mobile Gambling Deal

Mobile gambling specialist Probability Plc (PBTY.L) on Monday said it has entered into a strategic relationship for mobile gambling with Glu Mobile Inc. (GLUU: Quote), a developer and publisher of freemium games for smartphone and tablet devices.

Probability said it will leverage successful, existing Glu original IP to create a suite of Glu-branded real-money mobile slot games. The slot games will be distributed to audiences in Probability's regulated markets, initially the UK and Italy.

The company added that Glu original IP-branded casino games will be offered as part of the Probability portfolio to its direct customers on brands.

Under the deal, Probability will provide a comprehensive operational role, accepting all gambling-related regulatory responsibilities.

Probability CEO Charles Cohen said, "We have a unique opportunity to work with Glu to fashion great slots games that will appeal to our customers as well as those of our B2B clients. We look forward to deepening our relationship with Glu as we seek to expand our regulatory reach to new markets worldwide."

Niccolo de Masi, Chief Executive Officer of Glu Mobile, added, "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."

In London, Probability shares are currently trading at 75.12 pence, down 0.88 pence or 1.16 percent.

Register
To receive FREE breaking news email alerts for Probability plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of OvaScience Inc. (OVAS) have had a strong run in 2014, rising over 370 percent year-to-date. And that's indeed a very impressive return delivered by the fertility treatment company, which suffered a setback last year when it had to suspend a U.S. trial of its flagship fertility treatment due to regulatory concerns raised by the FDA. Nike Inc., the world's largest athletic shoes and apparel maker, said Thursday after the markets closed that its second quarter profit rose 23% from last year, helped by higher revenue and improved gross margin. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. Citing extreme fluctuation of the ruble, Apple Inc. (AAPL) has reportedly discontinued its online sales of products in Russia. Despite efforts of the Russian central bank, the ruble has been spiraling downward, with oil prices plunging to historic levels. The ruble shed around 19 percent on Wednesday....
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.