Cell phone gambling news

Michael Spencer Invests in Probability

On February 13th, 2008, a lot of people that are living outside the city see a minimal difference between dealing on the markets in London and gaming. For the Conservative Party treasurer and the head of the blue-chip interdealer broker Icap Michael Spencer that difference is crystal clear: one is considered a job and one a business opportunity.

Information also emerged that Mr. Spencer had made his latest investment into the gaming sector, putting down 1.7 million pounds in a not well-know group that specializes in wagering services given to customers on their cellular phones. He has bought a 15.8% share in Probability, through his holding company IPGL, by placing 3.3 million shares at 50 pounds each. Doof and Turftrax joins Mr. Spencer's portfolio of gaming interests.

Doof a social mobile gambling network for players that wants to go up against one another for points compared to cash. On the other hand, Turftrax is hoping to be the focal point of the next generation of gaming regarding horse racing. One of Mr. Spencer's earlier investment in the gaming sector was online bookmaker Blue Square, which he has sold to Rank in 2003.

The Chief Executive of Probability Charles Cohen commented that Mr. Spencer's investment was substantial. Probability features different casino games like bingo and slots to customer's cellular phones. It was first introduced as Mlotto to give mobile lottery games in 2004 but changed their name and focus before putting itself to be listed on the Alternative Investment Market back in August 2006.

As of now, none of the more established gaming companies were able to accurately penetrate the mobile gambling market. A director at IPGL, Matthew Wreford will join the board of directors of Probability.


March 03, 2008
Nancy Parker