Press Releases 2000
Bingo.com Announces Plan to Merge with Lottery.com
Transaction Offers Multi-Site Cross-Marketing and Co-Branding Opportunities; Creates Strong Platform for Proposed Online Lottery Ticket Sales
MARINA DEL REY, Calif., Dec. 18 /PRNewswire/ — Bingo.com, Inc. (OTC Bulletin Board: BIGR) and The Lottery Channel Inc. (LCI) jointly announced that they have entered into a letter of intent proposing the acquisition by Bingo.com of LCI. LCI is a privately held company (in which NBC owns a minority interest) that currently operates Lottery.com (lottery information & entertainment site), GameLand.com (Shockwave game developer & entertainment site), WaveGames.com (customer retention game developer) DollarBill.com (contest/sweepstakes site).
The proposed transaction structure will see LCI merged into a Bingo.com, Inc. subsidiary. As currently contemplated, at the closing, the shareholders of LCI would be issued approximately 14.5 million shares of common stock of Bingo.com so that they would own approximately 58% of Bingo.com’s outstanding shares calculated on a post-closing basis. In addition, the shareholders of LCI would receive warrants entitling them to purchase up to an additional 14.5 million shares of common stock of Bingo.com at $2.00 per share.
Bingo.com Named ‘Stickiest Site on the Web’ by Media Metrix – Visitors Spend an Average of 345 minutes per Month on the Site
MARINA DEL REY, Calif., Nov. 21 /PRNewswire/ — Bingo.com Inc. (OTC Bulletin Board: BIGR), a fast-growing entertainment site and game application service provider (ASP), today announced that a study from Media Metrix has positioned the company as the ‘Stickiest Site on the Web’ for September 2000. According to Media Metrix, the world’s leading provider of Internet and Digital Media measurement services, the Bingo.com website ranks number one with nearly 350 average minutes spent per month for each user of the site in September. The company outranked such popular Internet destinations as ebay.com, datek.com, pogo.com. and others.
Bingo.com Featured on CEOCAST.com
CEO Discusses Success of the ‘Stickiest Site on the Internet,’ Advertising Progress and Potential for Brand Expansion Opportunities
MARINA DEL REY, Calif., Nov. 16 /PRNewswire/ — Bingo.com Inc. (OTC Bulletin Board: BIGR) a fast-growing entertainment site and game application service provider (ASP), today announced that the company has been interviewed by CEOcast.com, a leading on-line financial forum. Shane Murphy, CEO of Bingo.com, participated in the taped interview today by CEOcast.com regarding his thoughts on the company’s advertising and e-commerce strategy, the success of Bingo.com and the entertainment brands’ cross-marketing and co-branding opportunities.
Bingo.com Third Quarter Revenues Show Sequential 945% Increase Over Second Quarter
‘Stickiest Site on the Internet’ Registers 10.5 Million Visits During Three-Month Period; Growth for Year Remains Strong
MARINA DEL REY, Calif., Nov. 14 /PRNewswire/ — Bingo.com, Inc. (OTC Bulletin Board: BIGR), a fast-growing entertainment site and game application service provider (ASP), today announced revenues of $544,416 for the fiscal quarter ended Sept. 30, 2000, compared with no revenues for the same year-earlier quarter. The most recent quarter’s performance represented a 945 percent rise over revenues of $57,588 in the quarter ended June 30, 2000.
The revenues improvement resulted from the sale of advertising on http://www.bingo.com and co-branding agreements with other popular Web sites. During the quarter, Bingo.com was rated “The Stickiest Site on the Internet” by the renowned A.C. Neilsen/Net Ratings organization which determined that the average Bingo.com player spends approximately nine hours per month playing on the company’s Web site.
Net loss for the three months ended Sept. 30, 2000, was $1,088,564 or $0.11 per share, compared with a loss of $699,212 or $0.07 per share for the period ended Sept. 30, 1999. The increase in loss is attributable to significant non-cash items recorded in the quarter. Excluding the non-cash items, the loss of the three months ended Sept. 30, 2000 is $620,690, compared to $663,361 for the same period in 1999. The non-cash items included in the loss figures are depreciation and amortization, primarily associated with the amortization of the company’s domain name, totaling $179,880, stock-based compensation costs of $247,833, provisions for non-collectable accounts of $21,126, and imputed interest charges on the domain name costs of $19,035. The only non-cash item in the same period in 1999 was depreciation and amortization of $35,851.
Bingo.com is a Winner in the New York Times; Bingo.com Featured at Length in an Article about Virtual Gaming
MARINA DEL REY, Calif., Oct. 30 /PRNewswire/ — Bingo.com Inc. (OTC Bulletin Board: BIGR), announced today that the company’s Web site has been positively singled-out numerous times in an article by Hilary Appleman that ran in the on-line Business Section of The New York Times on Oct. 25, 2000.
At home or in the office, the United States is game-happy and one of the most popular destinations is Bingo.com. The article in The New York Times pointed out the success of Bingo.com in the growing frenzy of game players across the country. Bingo.com offers a myriad of stylized, play for free multiplayer bingo games, video poker and other casino-style games.