Probability has been awarded a remote gambling licence by the government of Gibraltar.
The mobile phone gaming specialist, which is the first new company to be issued with a licence since 2008, will transfer its operations from Alderney, where it is currently licenced, to Gibraltar as soon as is practicable.
There are currently 19 other companies with a remote gambling licence in Gibraltar, including Ladbrokes, 888.com, PartyGaming and William Hill. The company anticipates that, along with commercial benefits within Gibraltar, this move will result in significant ongoing cost savings and improved operational margins as the business expands.
Charles Cohen, Probability COO, commented: "We are seeing the benefits now of our strategic initiative started 18 months ago to create a long-term platform for Probability. There remains a huge amount of opportunity for us as consumers shift their behaviour towards mobile devices such as the iPhone, Android and tablets such as the iPad and Blackberry’s recently announced PlayBook. You are going to see Probability making a strong play into all of these devices and markets. The Gibraltar licence is the icing on the cake, not just because it places us among a prestigious group of egaming businesses, but because it provides us with access to a skilled workforce and more efficient, competitive tax and cost regime."
