Mobile Gambling Company Playyoo sold to Probability plc

Playyoo develops and operates a business-to-business (“B2B”) mobile gambling and sports betting technology for the recently regulated Italian market. This technology enables Italian licensed gambling operators to offer casino and
betting games on smartphones through a single integration to the Playyoo platform. Playyoo’s clients include several of the largest companies in this market including SNAI, Cogetech and NeoMobile.

Playyoo’s mobile gambling games have been approved by AAMS, the Italian gambling regulator, and its platform has been integrated into the administrative and reporting systems which AAMS operates. AAMS requires that every wager be notified to them in real time, as well as independent verification of the game design and fairness before products can be offered to players. Playyoo’s service combines both the mobile games and the link to AAMS for its B2B customers as a hosted service.

Playyoo’s games are available on iPhone, iPod, iPad and Android devices. Several of their games, including Blackjack, have been accepted into the Apple App Store in Italy with a number more still in the approval process. Apple does not receive any share of the income from the gambling (as is the case in the UK).

Whilst Playyoo has been developing its technology for several years it only recently began to generate revenues from this service and launched its first gambling game only in January this year. However, based upon the strength of contracts already signed, the pipeline of new products and the potential of additional revenues from slots games after December 2012, Probability plc expects the Acquisition to be earnings accretive in the next full financial year.

Playyoo is registered and headquartered in Lugano. Founding investor and member of the board is Rocco Pellegrinelli from Lugano. He will join the board of Probability plc. Pellegrinelli, 54, is an experienced entrepreneur and investor with a background in financial services and technology businesses. Regarding the acquisition he said: “It is very exciting for us to become part of Probability. The synergies in terms of technology, products, and markets is fantastic. In this fast growing sector the combined business is uniquely positioned to dramatically expand its presence internationally.”