admin
August 14, 2009
Bingo.com Announces Second Quarter Results
ANGUILLA, B.W.I., August 14, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the second quarter ended June 30, 2009. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
“The second quarter of 2009 was a challenge for Bingo.com” said Tarrnie Williams, the Company’s CEO. “While our traffic and revenues continue to increase, the competition in the United Kingdom online bingo market is intense and has resulted in a reduction of individual player values. Our costs have increased due to our Maltese gaming license, affiliate marketing costs, and our continued investment into search engine optimization. We recognize that to capture a higher percentage of the online bingo market share and reach profitability we need to offer our players a unique gaming experience. As we put cost saving measures in place and continue to focus on improving the Bingo.com system, we believe we will achieve profitability in the coming quarters.”
May 6, 2009
Bingo.com Closes $225,000 Private Placement
ANGUILLA, B.W.I., May 6, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced it has closed a private placement of 1.5 million common shares at $0.15 per share to raise net proceeds of $225,000. One million of these shares were placed with Praetorian Offshore Ltd., a non U.S. resident under Regulation S exemptions. With this placement, Praetorian’s shareholding will increase to 18.95% of Bingo.com, Ltd. The remaining 500,000 shares were placed with another non U.S. resident under Regulation S exemptions.
“The funds from this private placement will be used to finance marketing initiatives in the United Kingdom, support expansion into new markets and act as a hedge against the rapidly changing currency markets we operate in.” said Tarrnie Williams, the Company’s CEO. “Bingo.com is currently live in English and Spanish and we plan to launch at least two new languages and two new currencies in 2009. These developments, combined with our increased visibility in the United Kingdom, will enable Bingo.com to attract and retain bingo and slots players from around the world.”
May 15, 2009
Bingo.com Announces First Quarter Results
ANGUILLA, B.W.I., May 15, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the first quarter ended March 31, 2009. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
“We’ve had a very pleasing first quarter of 2009” said Tarrnie Williams, the Company’s CEO. “We are now operating from Malta and, therefore are now permitted to advertise our gaming products in the United Kingdom. In addition, the latest version of the Bingo.com website is our most popular yet, and has helped Bingo.com to reach the highest player acquisition levels we’ve ever recorded. We continue to focus on launching our products into new markets as well as expanding the features and games available to play on Bingo.com. We believe that as we add new features, new languages, and new currencies, and the international currency markets become more settled, that our revenues will increase and profitability will be achieved.”
March 9, 2009
Bingo.com Launches Gaming System in Malta
ANGUILLA, B.W.I., March 9, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced that its wholly-owned Malta subsidiary, Bingo.com Operations Limited has launched its enhanced online gaming system under a Maltese gaming license and is subject to regulation by the Malta Lotteries and Gaming Authority.
“Launching Bingo.com from Malta is a significant step forward for our organization”, said Tarrnie Williams, the Company’s CEO. “We are now free to begin marketing in the United Kingdom and are able to expand the reach of our affiliate program to new and popular websites. We believe these initiatives in the UK, combined with our aggressive multi-language and multi-currency approach in other jurisdictions will ultimately prove successful for Bingo.com.”
February 9, 2009
Bingo.com Closes $525,000 Private Placement
ANGUILLA, B.W.I., February 9, 2008 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced it has closed a private placement of 3.5 million common shares at $0.15 per share to raise net proceeds of US$525,000. These shares were placed with non U.S. residents under Regulation S exemptions.
“We are pleased to have completed this financing during these turbulent times,” said Tarrnie Williams, the Companies CEO, “and believe these funds will help aleviate the currency risks recently encountered, as we move towards profitability. The proceeds from the offering will primarily be used to fund our expansion beyond the United Kingdom market as we launch our gaming system in several languages and allow players to deposit in various different major currencies. We expect these initiatives will enable Bingo.com to grow more rapidly and expand its market share.”