ANGUILLA, B.W.I., March 9, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced that its wholly-owned Malta subsidiary, Bingo.com Operations Limited has launched its enhanced online gaming system under a Maltese gaming license and is subject to regulation by the Malta Lotteries and Gaming Authority.
“Launching Bingo.com from Malta is a significant step forward for our organization”, said Tarrnie Williams, the Company’s CEO. “We are now free to begin marketing in the United Kingdom and are able to expand the reach of our affiliate program to new and popular websites. We believe these initiatives in the UK, combined with our aggressive multi-language and multi-currency approach in other jurisdictions will ultimately prove successful for Bingo.com.”
ANGUILLA, B.W.I., February 9, 2008 / 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 3.5 million common shares at $0.15 per share to raise net proceeds of US$525,000. These shares were placed with non U.S. residents under Regulation S exemptions.
“We are pleased to have completed this financing during these turbulent times,” said Tarrnie Williams, the Companies CEO, “and believe these funds will help aleviate the currency risks recently encountered, as we move towards profitability. The proceeds from the offering will primarily be used to fund our expansion beyond the United Kingdom market as we launch our gaming system in several languages and allow players to deposit in various different major currencies. We expect these initiatives will enable Bingo.com to grow more rapidly and expand its market share.”
ANGUILLA, B.W.I., February 6, 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 fourth quarter ended December 31, 2008. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
“The fourth quarter of 2008 was another strong quarter of growth for Bingo.com as we saw increased gaming revenues across all our products,” said Tarrnie Williams, the Company’s CEO. “However, like many international companies, we have been negatively affected by the dramatic volatility of the currency market, particularly the fall of the United Kingdom Pound Sterling and the strengthening of the United States Dollar in relation to other world currencies.”
“To help alleviate our future exposure to currency risk and to aid our expansion into new markets, we will shortly be implementing a multi-currency product feature to our gaming software that will allow for simultaneous gaming activity in Pounds Sterling, United States Dollars, Euros and other currencies we choose to offer. We continue to follow our business plan which has been successful to date at securing significant numbers of bingo and slots players in the United Kingdom. In addition, through leveraging our recently acquired Maltese gaming license, we are creating a number of additional language and market-specific initiatives in anticipation of launching in several new markets in 2009. The strength of our URL http://www.bingo.com continues to provide the Company with new players at low acquisition costs compared to the competition and we have increased our player base consistently each month. While there are many hurdles yet to overcome we are confident that our offering will continue at a steady rate of growth and that Bingo.com will be a major player in this highly competitive market.”
ANGUILLA, B.W.I., January 22, 2009 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced its wholly-owned Malta subsidiary, Bingo.com Operations Limited, had received a letter of intent from the Malta Lotteries and Gaming Authority to grant it a remote gaming license. Under the terms of the letter, Bingo.com, subject to certain conditions, is free to launch and operate its gaming website from a hosting facility in Malta. Bingo.com will then be operating from a tier one licensing jurisdiction and permitted to market its website and services within the United Kingdom. Bingo.com has completed the majority of the conditions and anticipates it will complete the remainder over the next few weeks.
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.