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Glu Mobile Unveils Real-Money Gambling Offering With Probability; Stock Surges

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3/12/2013 8:46 AM ET

Glu Mobile Inc. (GLUU: Quote), a developer and publisher of freemium games for smartphone and tablet devices, announced the availability of its first real-money mobile gambling offering through Probability Plc. (PBTY.L), the mobile entertainment gambling provider.

The mobile slot game features intellectual property from Glu's Samurai vs. Zombies Defense and is made available to mobile real-money gamers in the UK through Probability's distribution network.

"We are pleased to expand our mobile portfolio to include real-money gambling. We anticipate that real-money gambling will continue to gain momentum globally and believe that with this offering, Glu is well positioned to capitalize to the extent that additional markets adjust regulations," said Niccolo de Masi, Chief Executive Officer of Glu Mobile.

Glu Mobile said that the company and Probability entered into a strategic relationship for real-money gambling in 2012 and plan to offer additional Glu-branded mobile gambling games. Glu original IP-branded casino games will be offered as part of the Probability portfolio and will be offered to a broad range of Probability's partners such as Paddy Power, William Hill, and Probability's white label partners.

GLUU closed Monday's trading at $2.42. In Tuesday's pre-market trading, the company's shares are up $0.48 or 19.83 percent to $2.90.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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