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."
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%).