Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPAP.L Share News (PAP)

  • There is currently no data for PAP

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Glu Mobile launches real-money gambling, shares soar

Tue, 12th Mar 2013 15:39

March 12 (Reuters) - Mobile games maker Glu Mobile Inc launched its first real-money mobile gambling gamethrough UK mobile betting game designer and operator ProbabilityPlc, sending the U.S. company's shares up as much as 27percent.

Online gambling is growing in popularity in the UK. ZyngaInc and Facebook Inc are also looking to tap themarket through partnerships.

Zynga plans to offer real money casino games in Britain, andFacebook has said it will allow users in the UK to wager realmoney on its site.

Online gaming is also gaining momentum in the United States,with New Jersey legalizing online gambling for residents andNevada legalizing interstate online poker and allowingstate-to-state gaming agreements.

Glu, known for its free iOS and Android apps such as MutantRoadkill and Deer Hunter, said its branded casino games would beoffered in the UK through Probability and its partners such asbookmakers Paddy Power Plc and William Hill Plc.

Glu entered into a partnership with Probability in Octoberto create a suite of Glu-branded mobile slot games.

Glu shares were up 20 percent at $2.91 in late morning tradeon the Nasdaq on Tuesday. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing bySriraj Kalluvila)

More News
26 Aug 2009 12:09

London midday: Resource stocks a drag

Given that resource stocks are in the dog-house the Footsie is doing well to be only moderately in the red on a day of mixed results for blue chips. Pre-tax profits plunged at Tullow in the first half of the year as the firm felt the pinch of the slide in oil prices. The oil company posted a pre-t

Read more
26 Aug 2009 08:20

London open: Lower start for FTSE 100

Footsie is slightly lower in early dealings, with the advertising group WPP the leading share index's heaviest faller after reporting interim results. WPP said half-year results continue to reflect the impact of the global economic contraction, which continued to intensify in the second quarter, th

Read more
26 Aug 2009 07:27

Paddy Power H1 profit declines

Ireland's largest bookmaker Paddy Power reported a decline in half year pre-tax profit but saw 20% growth in online customers. Commenting on the results, CEO Patrick Kennedy said, "It's been... a positive start to 2009 for Paddy Power. A swing in the year-on-year run of sporting results, a normal o

Read more
19 Jun 2009 17:30

Paddy Power non-exec trims stake

Tom Grace, senior independent director of Paddy Power, has cut his stake in the Irish bookie, which has seen a rally in the share price since February. Grace, a former Irish rugby international and the treasurer of the Irish Rugby Football Union, sold €165,000 worth at €10 per share. Grace joined t

Read more
14 May 2009 15:19

Business picking up at Paddy Power

Irish bookmaker Paddy Power said the growth in the company's sportsbook has picked up after a couple of drab months at the start of the year. Trading in the first two months of 2009 was hit by a number of race meeting cancellations, but since then business has picked up, due in part to the expansio

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.