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February 6, 2009
Bingo.com Announces Fourth Quarter Results
ANGUILLA, B.W.I., February 6, 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 fourth quarter ended December 31, 2008. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
“The fourth quarter of 2008 was another strong quarter of growth for Bingo.com as we saw increased gaming revenues across all our products,” said Tarrnie Williams, the Company’s CEO. “However, like many international companies, we have been negatively affected by the dramatic volatility of the currency market, particularly the fall of the United Kingdom Pound Sterling and the strengthening of the United States Dollar in relation to other world currencies.”
“To help alleviate our future exposure to currency risk and to aid our expansion into new markets, we will shortly be implementing a multi-currency product feature to our gaming software that will allow for simultaneous gaming activity in Pounds Sterling, United States Dollars, Euros and other currencies we choose to offer. We continue to follow our business plan which has been successful to date at securing significant numbers of bingo and slots players in the United Kingdom. In addition, through leveraging our recently acquired Maltese gaming license, we are creating a number of additional language and market-specific initiatives in anticipation of launching in several new markets in 2009. The strength of our URL http://www.bingo.com continues to provide the Company with new players at low acquisition costs compared to the competition and we have increased our player base consistently each month. While there are many hurdles yet to overcome we are confident that our offering will continue at a steady rate of growth and that Bingo.com will be a major player in this highly competitive market.”
January 22, 2009
Bingo.com Receives LOI for Maltese Gaming License
ANGUILLA, B.W.I., January 22, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced its wholly-owned Malta subsidiary, Bingo.com Operations Limited, had received a letter of intent from the Malta Lotteries and Gaming Authority to grant it a remote gaming license. Under the terms of the letter, Bingo.com, subject to certain conditions, is free to launch and operate its gaming website from a hosting facility in Malta. Bingo.com will then be operating from a tier one licensing jurisdiction and permitted to market its website and services within the United Kingdom. Bingo.com has completed the majority of the conditions and anticipates it will complete the remainder over the next few weeks.
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