PRESS RELEASES
May 10, 2012
Bingo.com Announces First Quarter Results
ANGUILLA, B.W.I., May 10, 2012 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the first quarter ended March 31, 2012. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
Recent Bingo.com highlights include:
- Successful delivery of a large marketing program in target jurisdictions;
- Successful launch of Deal or No Deal Bingo and Lucky Numbers Bingo to Bingo.com’s game portfolio;
- Total revenue for the quarter ended March 31, 2012, was $406,307, an increase of 64% from revenue of $247,044 for first quarter of 2011;
- Net loss for the three months ended March 31, 2011, amounted to $24,930, an improvement of $718,402 over a net loss of $743,332 for the same period in 2011;
“The first quarter of 2012 saw increased investments into our marketing programs and a resulting increase in revenue,” said Jason Williams, Bingo.com’s CEO. “While it’s unfortunate to post a net loss for the quarter, our strategy was to make significant investments in marketing and I’m pleased that the loss is small. Our marketing campaigns continue to be effective and our brand well received in our target jurisdictions. While the number of active players is increasing, we have seen less growth in player values than previously which has impacted our total revenue growth. In the second quarter we intend to focus on player retention and with a smaller marketing investment planned, we anticipate a return to profitability.”
February 21, 2012
Bingo.com Announces Year End & Fourth Quarter Results
ANGUILLA, B.W.I., February 21, 2012 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the fourth quarter and the year ended December 31, 2011. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
Recent Bingo.com highlights include:
- Third consecutive profitable quarter;
- Total profit for the quarter ended December 31, 2011, was $31,093, an improvement from a loss of $260,682 for the same period in the prior year and an increase of 105% from a profit of $15,158 in the third quarter of 2011;
- Total revenue for the quarter ended December 31, 2011, was $389,390, an increase of 251% from revenue of $110,884 for the same period in the prior year and a decrease of 7% from revenue of $416,732 in the third quarter of 2011;
- General and administrative expenses were $137,607 during the fourth quarter of 2011, a decrease of 44% from general and administrative expenses of $245,175, in the fourth quarter of 2010 and a decrease of 6% from expenses of $146,137 for the third quarter of 2011.
“2011 was a pivotal year for Bingo.com,” said Jason Williams, the Company’s CEO. “During the first quarter, Bingo.com completed its restructuring initiatives and launched an aggressive new marketing campaign. The execution of these two strategies resulted in a large loss for Q1, 2011, but set the stage for Bingo.com’s return to profitability. With our costs down, and revenues rising, Bingo.com recorded profits for the remaining three quarters of 2011, improving with each quarter. During the fourth quarter, with a slightly lower marketing spend our revenues declined slightly, but our profits more than doubled. While we are concentrating on retaining profitability in 2012, our major focus will be to increase revenues and market share. Therefore, we will be investing significant resources into our marketing programs in the first quarter of 2012, which could result in a net loss for the quarter. However, we expect to continue to see long term positive returns on our marketing investments and believe that our current strategy is the correct one.”
December 7, 2011
Bingo.com Knows of No Material Change in it’s Affairs
ANGUILLA, B.W.I., December 7, 2011 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today reported that, in view of the unusual rise in the share price of the common stock of the Company, it reports that it is not aware of any material corporate development or material change which could account for the price changes.
November 14, 2011
Bingo.com Announces Profitable Third Quarter
ANGUILLA, B.W.I., November 14, 2011 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the third quarter ended September 30, 2011. All amounts are presented in United States Dollars and in accordance with United States Generally Accepted Accounting Principles.
Recent Bingo.com highlights include:
- Second consecutive profitable quarter;
- Net income for the three months ended September 30, 2011 was $15,158, a 78% increase
compared to a net income of $8,520 in the second quarter of 2011; and - Revenue of $416,732, an increase of 15% from revenue of $363,492 in the second quarter of2011.
“Bingo.com has increased revenue and profits in the third quarter of 2011”, said Jason Williams, Bingo.com’s CEO. “We continue to build on the success of our restructuring program and marketing efforts. Despite the challenging summer months and a significant negative effect from currency fluctuations due to the strengthening of the United States Dollar, our reporting currency, Bingo.com has performed well. The benefits of Bingo.com’s participation in the Unibet partner program are now being realized with gaming revenues increasing by 382% when compared with the same quarter in 2010. Leveraging the multi-language and multi-currency features of the Unibet platform, Bingo.com’s European expansion is proving successful with several markets now contributing significant portions of our revenue. Player acquisitions and gaming activity on Bingo.com remain high and we hope to continue our success with further marketing investments in the fourth quarter.”
August 15, 2011
Bingo.com Announces Profitable Second Quarter
ANGUILLA, B.W.I., August 15, 2011 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the second quarter ended June 30, 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 profitable quarter since the second quarter of 2006.
- Net income for the three months ended June 30, 2011 was $8,520 compared to a net loss of
- $743,332 in the first quarter of 2011.
- Revenue of $363,492, an increase of 47% from revenue of $247,044 in the first quarter of 2011.
“Bingo.com has returned to profitability in the second quarter of 2011”, said Jason Williams, Bingo.com’s CEO. “In the first quarter of 2011, we completed the restructuring of Bingo.com’s strategy, technology, and personnel and are pleased to see the positive results that have been achieved. As a member of the Unibet partner program, Bingo.com’s international player acquisitions and revenues have greatly improved. The combination of a multi-language and multi-currency approach with a wide selection of premium bingo and casino games has resulted in high player values from a number of countries. With the launch of Bingo.com’s marketing initiatives in January 2011 and the rise of our active player base, Bingo.com’s revenues have climbed steadily. Now with higher revenues and lower operating costs, Bingo.com has been able to secure its first profitable quarter since the second quarter of 2006. Moving forward, Bingo.com will continue to invest in targeted marketing initiatives with the intention of growing revenues and profits.”
Total revenue for the quarter ended June 30, 2011, was $363,492, an increase of 47% from revenue of $247,044 in the first quarter of 2011, and an increase of 3% from revenue of $353,619 for second quarter of 2010. Gaming Revenue was $352,413 in the quarter ended June 30, 2011, an increase of 52% from revenue of $231,177 in the first quarter of 2011, and an increase of 6%, compared to Gaming Revenue of $333,115 in the second quarter of 2010. This increase compared to the first quarter of 2011 and the second quarter of fiscal 2010 is due to a targeted television marketing campaign. We earned advertising revenue of $11,079 in the quarter ended June 30, 2011, a decrease of 30% from advertising revenue of $15,867 in the first quarter of 2011 and a decrease of 46% from advertising revenue of $20,504 in the second quarter of 2010. During the quarter ended March 31, 2010 the Company suspended sales of new advertising.