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May 15, 2008
Bingo.com Announces First Quarter Results
ANGUILLA, B.W.I., May 15, 2008 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular onlinegaming community www.bingo.com, today announced its unaudited financial results for the first quarterended March 31, 2008. All amounts are presented in United States dollars and are in accordance withUnited States Generally Accepted Accounting Principles.
“The first quarter of 2008 was another strong quarter of growth for Bingo.com” said Tarrnie Williams, theCompany’s CEO. “We’ve increased our revenue, decreased our costs, and further entrenched Bingo.comas a premier gaming operator in the United Kingdom market. Bingo.com has added thousands of newreal-money players in the quarter and the popularity of our gaming suite is growing rapidly within the UK bingo community. Our strategy remains focused on leveraging the strength of the Bingo.com URL in the UK as we prepare for the launch of Bingo.com in other markets and other languages. While man challenges remain, Bingo.com is in an excellent position to return to profitability.”
Bingo.com highlights of the first quarter of 2008 included:
- Total revenue of $1,344,347, up 18% from total revenue of $1,135,844 in the fourth quarter of
- 2007 and $989,576 in the third quarter of 2007.
- Net loss of $262,543 in the first quarter of 2008 from net loss before abnormal items of $336,968
- in the fourth quarter of 2007 and $395,787 in the third quarter of 2007.
- Initial license approval in Alderney.