Probability focus on growing its B2B margin
Mobile gambling company Probability remains committed to growing a “higher margin” business-to-business operation after revealing a fall in net gaming revenue in the six months through to September 30.
Probability posted net gaming revenue of £3.6 million (€4.3 million/$5.9 million) for the six months, a drop on the £4.5 million recorded in the corresponding period last year.
Losses in adjusted earnings before interest, tax, depreciation and amortisation also increased from £500,000 in the previous year to £1.4 million in the last period.
Probability recorded an 8% increase on average revenue per user from business-to-consumer and white label players managed by the firm.
In addition, B2B revenue including Italy grew to £1 million from £900,000 in the previous year.
Charles Cohen, Probability’s chief executive officer, said the company is now focused on going its B2B business to improve future results.
“We are dealing with the legacy of the challenges we faced in the first half of the financial year following the disappointing performance of some of our B2C marketing activities,” Cohen said.
“During the summer, once it became clear that the B2C commercial strategy was not delivering we took decisive action in recalibrating this side of the business, bringing in new talent and fresh thinking and focusing back onto proven and controllable methodologies for acquisition.
“Whilst recovery is still incomplete we have begun to see growth again and our unrelenting focus is to build on this renewed momentum.
“We remain focused on our medium term goal of reducing our dependence on B2C activities and continuing to grow our higher margin B2B business, in particular through our managed service offerings.”