Tory MP Moving into Mobile Gaming

Michael Spencer, the Conservative Party Treasurer, has invested in mobile gambling, much to the surprise of many. The online slots and gambling world have been a subject of much dispute in the country, so they are wondering why he would go show such a huge amount of support to the mobile slots and gambling industry.

Spencer has no apologies for his behavior though, he says that this is not the first time that he has invested in online slots and gambling, as in 2003 he sold whatever interests he had in the online bookmaker Blue Square. UK bingo group Rank purchased his investment.

Spencer has invested £1.7 million in mobile gaming and the online bingo games software firm Probability. With this investment he now owns 15.8% of the company. He believes that with the right marketing and the right connections that the company can be a major player in the online slots and bingo gambling arena “over the next decade.”

The company’s CEO Charles Cohen said that Spencer’s investment was a big deal to them, and that it meant a lot to have his endorsement and support. They said that he had given them “credibility” with his support. The company is focusing on online slots and online bingo to customers through their mobile phones and this new investment will bring them several steps closer to their goal.



Back to February 2008 Archive.