admin
June 16, 2011
Bingo.com Appoints Jason Williams as President and CEO
ANGUILLA, B.W.I., June 16, 2011 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced that it has appointed Jason Williams as President and CEO of the Bingo.com organization. Mr. Tarrnie Williams, who has been Chairman, President, and CEO of the Company since 2001, will continue to serve as Chairman of Bingo.com’s board of directors. Other matters approved at today’s Annual General Meeting, held in The Valley, Anguilla, included the election of Ebba Ljungerud, Head of Maria Bingo within the Unibet Group, to the Company’s board of directors; the reappointment of the current Bingo.com board members excepting Petter Nylander, the previous Unibet Group representative; the appointment of Davidson & Company LLP, Chartered Accountants as independent auditors for the Company for the 2010 fiscal year; and other general business items which all passed as proposed.
“It’s now been over a decade since I assumed control of Bingo.com and I’m confident the organization is once again on the path to financial success,” said Tarrnie Williams. “Therefore, the board and I agree that the time has come for Jason Williams to assume the roles of President and CEO of Bingo.com. Jason, a member of the management team since 2001, has been leading our operations in Europe for the past four years as Bingo.com’s Vice President of Business Development and Marketing Director. We’re confident Jason has the skills, vision, and experience to make Bingo.com a success. I look forward to working with Jason in the years to come and will continue to assist him in my role as Chairman.”
AGM 2011
The Annual General Meeting of Bingo.com, Ltd. was held at the company’s Anguillian office located at Ground Floor, Hansa Bank Building, Landsome Road, The Valley, AI 2640, Anguilla, British West Indies on Thursday, June 16th, 2011 at 11:00 am (Anguillian Time).
May 12, 2011
Bingo.com Announces First Quarter Results
ANGUILLA, B.W.I., May 12, 2011 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its preliminary unaudited financial results for the first quarter ended March 31, 2011. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
Recent Bingo.com highlights included:
- First quarter revenue of $247,044, an increase of 123% from revenue of $110,884 in the fourth quarter of 2010.
- A 95% increase in total monthly active customers in the first quarter of 2011 from the fourth quarter of 2010.
- Completed cost reduction restructuring program of the Bingo.com organization • Launch of television marketing campaign: http://www.youtube.com/watch?v=yDDXHmerMz8
“The first quarter of 2011 marks two milestones with the launch of our new marketing initiatives and the completion of our restructuring efforts,” said Tarrnie Williams, Bingo.com’s CEO. “I’m pleased to see our increased revenue and an increase in the total monthly active players, although the results have come at a significant cost. We invested heavily into marketing placements in the first quarter and the response from our target market has been extremely positive. However, given the large size of our investment, we believe it will take many months before the full benefits of the campaign are realized and returns secured. We continue to support the marketing in target jurisdictions with lower intensity. Bingo.com has recorded a significant loss in the first quarter of 2011. This is primarily a result of the high marketing costs and large one-time charges stemming from our restructuring efforts which are now complete. The remaining future costs of Bingo.com are now focused on the marketing function of the organization as we invest to generate increasing amounts of targeted traffic to build a large base of valuable customers.”