Regular news in the mobile casino industry generally concerns the launch of new games or the addition of a new casino into the mix, but one massive headline that came out this week concerns gaming provider GTECH. As part of their mobile strategy, they have tabled an £18 million buyout offer for their partner Probability, who are established not only as one of the most important companies in mobile casino gaming, but also as one of our personal favourites.
Indeed, we’ve followed the Probability story here at MobileCasino.net virtually since the company launched as they made a massive impact on the mobile gaming industry. They are the company behind Moobile Games and LadyLucks casinos, two of our most highly recommended mobile casinos, and they also work with some of the biggest names in the industry, providing games and mobile casino management software that simply cannot be found anywhere else.
Indeed, seeing the company being bought out by one of these partners comes as little surprise, such is the quality of their platform. GTECH are more conventionally associated with the online gaming industry as opposed to mobile, but had made it clear towards the end of last year that they were looking to improve and expand their mobile offering. With plenty of online resources already in place, it makes sense for them to be looking towards a dedicated mobile platform to enhance what they have, as they get everything that they are missing without having to add in existing online games and software. There is also the small fact that while Probability is successful, it is a relatively small company considering its reputation which adds in the crucial fact that it is affordable.
As a publically traded company, the news has made waves throughout both the gaming and investment industries. The offer and subsequent acceptance has made headlines on news sites such as ours and even received coverage in the likes of the Wall Street Journal. If you’re into the financial details, then the offer represents 50p per share in cash, which is 59% above Probability’s closing share price on the day of the offer and 37% above their three month average.
Speaking on the deal, Charles Cohen, the Chief Executive at Probability, commented: “The scheme provides certainty of value to Probability shareholders through a cash exit at a premium to the recent share price. The board and management of Probability are fully supportive of this transaction, which it believes is in the best interest not just of Probability shareholders, but also of all of Probability’s employees and customers. By becoming part of the GTECH Group, Probability will be able to leverage its technology, mobile expertise and customer relationships on a global basis.”
GTECH has already stated that the acquisition of their partner will allow them to ‘quickly create and launch games on multiple devices and in numerous regulated jurisdictions’.
We’ll be sure to keep all of our readers up to date on the latest developments as they happen, but in the meantime you can check out everything that Probability currently has to offer at their own aforementioned mobile casinos, Moobile Games and LadyLucks. You can find out all about both operators and what they have to offer in our dedicated mobile casino review section here on the site.