Probability (London: 60p / + 2.50p / + 4.35%)
Probability, a London-based mobile gambling operator, has appointed Michael D. Watson to its board of directors.
Mr. Watson, the former chief financial officer of Consensus Business Group in London, replaces Robert J. Spriddell, who stepped down due to other business commitments, the company said.
Vincent Tchenguiz, the United Kingdom property entrepreneur and owner of Consensus, maintains a substantial holding in Probability.
William Hill (London: 352.50p / - 7p / 1.95%)
William Hill, the land-based and Internet gambling operator, will look to its new software platform to generate half of its total gross win once launched.
Ralph Topping, the company's chief executive, told analysts and journalists at a Tuesday presentation in London that the platform should increase the proportion of gross win derived online from 20 percent to 50 percent.
"That kind of growth is there for us to aim for but we'll set formal targets early next year," Reuters quoted Mr. Topping as saying.
The platform, designed by Orbis Technology Ltd., is set to be launched in late November 2008.
William Hill's January decision to scrap NextGen, its in-house technology program, resulted in an exceptional charge of £20.9 million, with restructuring charges of approximately £4 million across the 2008 fiscal year.
Française des Jeux: To Announce Sale of Shareholding
An unknown stake in Française des Jeux, the national lottery, was to be sold today, according to an article in the Financial Times Tuesday.
Currently, the French government holds a 72 percent stake, while the remainder is held by employees and a group of charitable organizations, the paper said.
The Times said that the government in recent weeks has indicated a desire to sell more its state shareholdings to fund various initiatives like reforming its universities.
WorldSpreads Group: (London: 108p / - 2p / - 1.82%)
WorldSpreads Group, the Dublin-based spread betting operator, revealed an 81 percent rise in full-yearly net profit to 1.9 million euros, or $2.9 million, from 1.04 million euros.
The company said Wednesday that profit was helped by a strong performance in its recently launched financial derivatives division, as well as increased market volatility, which prompted customers to open accounts.
For the fiscal year ended March 31, 2008, revenue from sports betting totaled 1.3 million euros, or 13 percent of group revenue, down from 2.3 million euros, or 35 percent, in 2006.
Revenue from spread betting, however, grew 148 percent to 10.7 million euros from 4.3 million euros in 2006.
Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.