PRESS RELEASES
August 16, 2005
Bingo.com Announces Second Quarter Results
ANGUILLA, B.W.I., August 16, 2005 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the Internet’s pre-eminent bingo portal, today announced its financial results for the second quarter ended June 30, 2005. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
- Bingo.com highlights of the second quarter 2005 include:
- Bingo.com, Inc. completed a merger with its wholly-owned subsidiary Bingo.com, Ltd. with Bingo.com Ltd. being the surviving corporation.
- Completed a non-brokered private placement offering of 1,339,667 common shares at $0.75 per share which raised gross proceeds of $1,004,750.
- Launched its cash bingo games.
May 30, 2005
Bingo.com Purchases Two Cash Bingo Sites
ANGUILLA, B.W.I., May 30, 2005 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the Internet’s pre-eminent bingo portal, is pleased to announce that it has purchased the popular cash bingo web sites www.winabingo.com and Groovybingo.
Bingo.com has completed an asset purchase of these sites which includes the player cash deposits, URLs, and player databases for a sum to be determined by the number of active players in the database and the amount of revenue they generate for the Company over the next 12 months. Active players from these sites will immediately have their accounts credited in the Bingo.com system and begin playing in the Bingo.com cash games.
May 16, 2005
Bingo.com Announces First Quarter Results
ANGUILLA, B.W.I., May 16, 2005 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the Internet’s pre-eminent bingo portal, today announced its financial results for the first quarter ended March 31, 2005. All amounts are presented in United States dollars and in accordance with United States Generally Accepted
Accounting Principles. Highlights of the first quarter 2005 included:
- Revenue increased to $403,551, an increase of 64% over revenue of $246,189 in first quarter of 2004
- First quarter profit of $32,209, the third consecutive positive quarter
“Our continued quarter by quarter increase in revenue is very satisfying”, remarked Tarrnie Williams, the Company’s CEO. “We look forward to continued growth accelerated by the upcoming launch of our new cash bingo games.”
April 25, 2005
Chartwell Teams with Bingo.com to Offer Cash Bingo
Calgary, Canada, April 25, 2005, Chartwell Technology Inc. (TSX:CWH), a leading provider of gaming software systems to the online and remote gaming industry, and Bingo.com, Ltd. (OTCBB:BNGOF), operator of the Internet’s pre-eminent bingo portal, are pleased to announce that Chartwell has been selected as Bingo.com’s official supplier of its cash gaming system.
Bingo.com is one of the world’s largest online bingo destinations, with a player base of over one million registered players. Through its player acquisition strategy and unique brand identity Bingo.com attracts over 30,000 visitors each day, averages over 800 new player signups per day and has served up over four billion Bingo cards to date on a play for fun basis. Due to the recent positive regulatory movements (UK Gambling Bill), Bingo.com has decided to take advantage of its brand and dominant position in the free online bingo industry to diversify its business model and enter the play for cash bingo market. Under the terms of the license agreement, Chartwell will provide Bingo.com with its gaming system, offering players the experience of flash based 75 and 90 ball bingo games, complete with chat features and the opportunity to play Chartwell’s full suite of soft games which are offered as side games or intermission entertainment.
“We are delighted to have been selected as the software provider to one of the world’s largest online bingo companies”, states Darold Parken, President and CEO of Chartwell. “Community based gaming has become one of the fastest growing segments of the gaming industry and the launch of Bingo.com’s play for cash offering gives Chartwell a strong industry partner and represents a significant step towards positioning the Company as the leading bingo software provider to this exciting gaming market segment.”
April 14, 2005
Bingo.com, Ltd. Announces Private Placement Closing
Anguilla, B.W.I., April 14, 2005 / Bingo.com, Ltd. (OTC BB: BNGOF), announced today that it has closed a non-brokered private placement offering of 1,339,667 common shares at US$0.75 per share which has raised gross proceeds of US$1,004,750. The private placement was completed under Regulation S. Proceeds of the private placement will be used for general working capital and as a reserve for potential future acquisitions.