Michael Spencer, Conservative Party treasurer has invested £1.7 million in mobile gaming and online bingo games software firm Probability. The £1.7 million he invested bought him a 15.8% stake in the firm.

Spencer had to say this about his newest investment, "I am confident that Probability can be a major player in one of the most exciting growth areas in the gaming arena over the next decade".

This wasn't the fist time that Mr. Spencer has invested in the gaming sector, back in 2003 he sold his interest in online bookmaker Blue Square to UK Bingo Group Rank.

Probability's CEO Charles Chone said that Mr. Spencer's investment was "huge" and their firm was very pleased to get his seal of approval and of course the investment. Probability specializes in providing gambling games including online casinos, bingo and slots to customers on their cell phones.

- 2008-02-15