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Probability, Glu Mobile Sign Mobile Gambling Deal

10/8/2012 3:51 AM ET

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.

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by RTT Staff Writer

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