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Poker News

Probability granted with a 10 year Italy gambling license

Written By: Maya Michaels | November 22, 2012 | Posted In Poker News

Probability, an expert mobile gambling software company has been granted a ten-year remote gambling licence in Italy and plans to get into the market with an entire ‘white-label’ service.

Listed on the Alternative Investment Market (AIM) of the London Stock Exchange Probability mentioned that the Italian licence will ‘greatly expand’ its ‘addressable market for mobile gambling services’ as it will now have ‘direct access to one of the largest legal gambling markets in Europe just as it is opening up the most popular forms of online and mobile gambling’.

The merit, which has cost €300,000 as well as the firm posting a ‘good behaviour bond’ of €200,000 that is due to take place over the life of the service, comes 3 months after Probability made its initial step into the Italian market by obtaining business-to-business mobile gambling developer Playyoo SA.

Chief Executive Officer for Probability, Charles Cohen said “The conditions are ideal for us to enter this market with a full ‘white-label’ offering alongside the business-to-business business we already operate there following the Playyoo acquisition,”

“Our expertise in mobile gambling is tailor-made for Italy, where some 30 percent of adults now have a smartphone and where slots games, [which are] our best performer in the UK market, are by far the most popular way to gamble.”

“With the licensing of slots for online and mobile users expected to start later this year, we feel we are in the right place at the right time with the right offering to succeed in this very exciting European market.”

Probability stated that the expenses of the licence have been financed from present cash reserves with no additional capital investments needed and will see it leverage its Playyoo purchase with a supporting ‘white-label’ service.

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