Probability plans to enter the US market in 2014 as losses widen

PROBABILITY reported in its half year results yesterday that gaming revenues fell 20 per cent year-on-year and that the online gambling firm plans to enter the US market next year.

Shares in the firm plummeted by 24 per cent after yesterday’s announcement to 36p a share. The company nearly tripled its loss for the period, which widened to £1.4m during the six months to 30 September.

The firm’s business to business division remains a positive area, with revenues rising ten per cent to £1m during the period.

Probability is looking to expand on this success in the UK and Italy, as well as venturing into the US market in 2014, as states have begun to unravel the regulations put in place by the federal government in 2006.

They would be following the three UK gaming companies who last month entered the New Jersey gaming market.

Probability chief executive Charles Cohen said, “The company is in advanced negotiations with two potential customers to supply our services in their respective US states.”