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.
ANGUILLA, B.W.I., February 28, 2008 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the World’s Largest Bingo Hall, today announced its unaudited financial results for the fourth quarter ended December 31, 2007. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
“The fourth quarter of 2007 was considerably better than that of 2006” said Tarrnie Williams, the Company’s CEO. “Last year we were scrambling to recover from the forced sale of our US facing gaming business due to the passing of the United States Unlawful Internet Gambling Enforcement Act. This year we are comfortably underway to a return to profitability and have a growing customer base in the regulated market of the United Kingdom. We are reducing our loss, quarter by quarter, and are extremely pleased with the positive responses we’ve received from our new players regarding our new website and games. The strength of our URL www.bingo.com continues to provide us with new players at a very low acquisition cost compared to the competition and our new software platform has been a hit with the bingo players. While there are many hurdles yet to overcome we are confident that our offering will continue its current rate of growth and that Bingo.com will be a major player in this highly competitive market.”