Probability released a strong first-quarter trading update Wednesday, a performance which the company's chief executive, Charles P. Cohen, told Interactive Gaming News was driven by momentum in customer registrations and existing players.
The company, which trades on the London Stock Exchange, reported 75,225 new registrations during the three months to June 30, while its customer acquisition rate was up 19 percent against the fourth quarter.
Net gaming revenue was up 7.5 percent to £1.24 million, from £1.16 million during the previous quarter.
Looking ahead, Mr. Cohen said recent deals with Three, the mobile network operator, and Paramount Pictures would be key to revenue contribution. The first of its movie-branded games, he said, will begin contributing materially to revenue from the second quarter.
When asked about the well-trodden topic of mobile gambling in Asia, Mr. Cohen suggested mobile will be a bigger hit than gambling online -- first, because mobile phones with Internet connections outnumber computers, and second, because consumers are more likely to use their phones as leisure conduits than their computers.
"The latter (computers) are perceived more as work tools, where as in Europe of course the PC is as much an entertainment center as it is a work tool," he said.
Mr. Cohen said, however, that a more favorable Asian regulatory environment would be a requisite for mobile gambling growth.
"Mobile gambling cannot skirt around legal issues with the same apparent ease as online, mainly because you need the cooperation of network operators to ensure your service succeeds," he said. "They cannot play fast and loose with regulation without risking their entire business. So I think that we will have to wait for a more favourable regulatory environment before mobile gambling takes off in Asia."
Mr. Cohen declined to comment on the company's licensing pipeline.
Probability, with a market capitalization of £9.6 million, was down 1.50 pence, or 2.8 percent, to 52 pence.
Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.