ANGUILLA, B.W.I., March 22, 2010 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced it has entered into a formal agreement to join the Unibet partner program as a network operator of their multi-language and multi-currency bingo and casino systems. Bingo.com players will be combined with the gaming liquidity on Unibet’s popular Mariabingo.com and Bingo.se websites to create one of the largest and most international online bingo systems in operation.
ANGUILLA, B.W.I., January 15, 2010 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced that it has selected Cozy Games to be its new core software platform for bingo, slots, and other casino games. The games are now live at the Bingo.com website after a smooth transition to the new system.
“We’re excited to be live on the Cozy Games system,” said Tarrnie Williams, Bingo.com’s CEO. “We believe that with an improved bingo product, the addition of over 30 new slots games, the upcoming availability of our games over smart phones, and many other advanced features, Bingo.com will experience greater player values from both our existing and new players. Furthermore, we believe that with the Cozy Games software, Bingo.com is in an excellent position for continued growth by capturing market share from other operators due to having a unique and competitive product. The Cozy Games system also provides full multi-language and multi-currency support enabling Bingo.com to continue its expansion into new markets.”
ANGUILLA, B.W.I., November 10, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced its preliminary unaudited financial results for the third quarter ended September 30, 2009. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
“The effects of the economic downturn were evident in our third quarter results,” said Tarrnie Williams, the Company’s CEO. “Online bingo players have become quite sophisticated and, with an increase in the number of similar product offerings, individual player values have contracted. In anticipation of this fact, we invested significant resources during the third quarter into a differentiated product that will soon be ready for release. The fourth quarter has started well and, when our new offering is live, we expect the business to be well positioned to return to growth and profitability.”
Bingo.com highlights for the third quarter of 2009 included:
- Third quarter gaming revenue of £852,513, an increase of 9% from gaming revenue of £781,948 for the third quarter of the prior year and a decrease of 11% from gaming revenue of £957,040 in the second quarter of 2009 when measured in Pounds Sterling, our depositing currency.
- Net loss of $390,432 in the third quarter of 2009
- Financed and installed new system architecture to host new games and new features
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.”
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.”