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.”
“We are excited to be working with the Chartwell team”, comments Tarrnie Williams, CEO of Bingo.com. “Collaborating with Chartwell will ensure a smooth transition into the cash bingo business and position us to take advantage of our strong market position. Chartwell was our preferred supplier for the cash bingo gaming system because of their reputation in the industry, their adherence to auditable gaming systems and their commitment to quality software development.”
While still in its infancy, online bingo has already attracted more than five million players with a demographic profile that differs significantly from that of online casino and poker players. This suggests that bingo will make a significant contribution to the growth of the online gaming industry, expected to generate revenue exceeding $18 billion by 2010, according to Christiansen Capital Advisors. The growth of online gaming as a whole has the opportunity to significantly exceed published forecasts. Regulation in the United Kingdom and other nations adopting similar online gaming policies are expected to facilitate this growth.
For more information contact:
- Henry Bromley
- (264) 461-2646