UK Tory Purchases 15% Stake in Online Gaming Company

Conservative Party treasurer Michael Spencer has evidently invested £1.7 million in mobile gaming and online bingo games software firm Probability. The purchase grants the Tory leader a 15.8% stake in the company. Spencer was quoted as saying, "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 is not the first time that Spencer has invested in the gaming sector. In 2003 he sold his interests in online bookmaker Blue Square to UK bingo group Rank. Probability CEO Charles Cohen said that Mr Spencer’s investment was "huge" and the firm was very pleased to win his seal of approval, "worth as much as the financial investment in credibility terms."

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