Mobile gambling specialist Probability expects to defer profitability at least until the next financial year.
The company provided this update as it has chosen to invest further.
“The key investments are in technology and people to allow us to grow faster and in more product areas,” said Charles Cohen, CEO of Probability.
The company is internationalising its platform to allow for multi-lingual and multi-currency services, and has also created a dedicated team for smartphone applications including iPhone, Blackberry and Android devices.
“A project is also well under way to more than double the operating capacity of our systems in anticipation of significant growth in the next few years,” Cohen said.
The company has also appointed Matthew Sunderland, a senior executive from G2 - the on-line services division of GTech, who joins as managing director, Consumer Brands.
At the same time, Glenn Elliott, who is currently COO, will be focussing on business-to-business services and will be working closely with Probability’s partners such as Dragonfish and Orbis to ensure the success of this new division within the company.
In its results for the six months ended 30 September, the company shared that it posted net gaming revenues of £2,478,000, in comparison with £2,621,000 last year. It registered pre-tax loss of £255,000.
