Glu Mobile's (NASDAQ: GLUU) stock is skyrocketing after reports today of the announcement of their first real-money mobile gambling offering. The deal offers a mobile slot game, and will be worked through Probability plc, a mobile entertainment gambling provider. Both Glu and Probability have been in talks about online gambling since last year.
A recent press release states,"Glu original IP-branded casino games will be offered as part of the Probability portfolio and will be offered to a broad range of Probability's partners such as Paddy Power, William Hill, and Probability's white label partners."
Reuters reports that Zynga (NASDAQ: ZNGA)plans to offer real money casino games in Britain, while Social Media giant Facebook has said it will allow users in the UK to wager real money on its site.
Glu Mobile dropped below the $5.00 mark in September 2012, officially living in the land of penny stocks. Since then, the stock price has hovered between $2.00 and $2.50 a share. The jump in price is significant: Glu Mobile's stock was trading at $2.42 before the news of the deal.
As of 2 p.m. today, Glu Mobile, Inc. was trading at 2.91 0.49(20.25%).
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