February 21, 2012

Bingo.com Announces Year End & Fourth Quarter Results

ANGUILLA, B.W.I., February 21, 2012 / Bingo.com, Ltd. (OTC BB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the fourth quarter and the year ended December 31, 2011. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.

Recent Bingo.com highlights include:

• Third consecutive profitable quarter;
• Total profit for the quarter ended December 31, 2011, was $31,093, an improvement from a loss of $260,682 for the same period in the prior year and an increase of 105% from a profit of $15,158 in the third quarter of 2011;
• Total revenue for the quarter ended December 31, 2011, was $389,390, an increase of 251% from revenue of $110,884 for the same period in the prior year and a decrease of 7% from revenue of $416,732 in the third quarter of 2011;
• General and administrative expenses were $137,607 during the fourth quarter of 2011, a decrease of 44% from general and administrative expenses of $245,175, in the fourth quarter of 2010 and a decrease of 6% from expenses of $146,137 for the third quarter of 2011.

“2011 was a pivotal year for Bingo.com,” said Jason Williams, the Company’s CEO. “During the first quarter, Bingo.com completed its restructuring initiatives and launched an aggressive new marketing campaign. The execution of these two strategies resulted in a large loss for Q1, 2011, but set the stage for Bingo.com’s return to profitability. With our costs down, and revenues rising, Bingo.com recorded profits for the remaining three quarters of 2011, improving with each quarter. During the fourth quarter, with a slightly lower marketing spend our revenues declined slightly, but our profits more than doubled. While we are concentrating on retaining profitability in 2012, our major focus will be to increase revenues and market share. Therefore, we will be investing significant resources into our marketing programs in the first quarter of 2012, which could result in a net loss for the quarter. However, we expect to continue to see long term positive returns on our marketing investments and believe that our current strategy is the correct one.”

Total revenue for the quarter ended December 31, 2011, was $389,390, an increase of 251% from revenue of $110,884 for the same period in the prior year and a decrease of 7% from revenue of $416,732 in the third quarter of 2011. Of the $389,390 in total revenue for the quarter, the gaming operations provided revenue of $367,560, an increase of 295% from gaming revenue of $93,128 in the fourth quarter of 2010 and a decrease of 8% from gaming revenue of $398,803 in the third quarter of 2011. The increase compared to the fourth quarter of 2010, is due to an increase in cash game play as a result of our marketing efforts. The decrease in gaming revenue for the fourth quarter of 2011, compared to the third quarter of 2010, is due to a decrease in marketing during the fourth quarter. Bingo.com earned advertising revenue of $21,830 in the quarter ended December 31, 2011, an increase of 23% from advertising revenue of $17,756 in the fourth quarter of 2010 and an increase of 22% from advertising revenue of $17,929 in the third quarter of 2011.

Operating costs before interest, and depreciation expenses, including sales and marketing and general and administrative expenses decreased to $356,034 in the fourth quarter of 2011, a decrease of 2% over operating expenses of $361,764 in the fourth quarter of 2010 and a decrease of 11% over operating costs of $399,884 in the third quarter of 2011. The decrease in operating expenses compared to the fourth quarter of 2010, is due a decrease in salaries and wages. In the first quarter of 2011, the Company restructured the business and reduced the number of staff. The decrease in operating expenses compared to the third quarter of 2011, is due to the reduced marketing spend.

Sales and marketing expenses were $197,172 during the fourth quarter of 2011, an increase of 171% over expenses of $72,791 during the fourth quarter of 2010 and a decrease of 10% over sales and marketing expenses of $219,578 in the third quarter of 2011. Selling and marketing expenses principally include Bingo.com marketing campaigns, affiliate commissions, Search Engine Optimization, and other promotional expenses intended to increase our player base and improve gaming revenue. The increase in sales and marketing expenses for the quarter ended December 31, 2011, compared to the fourth quarter of 2010, is due to an increase in active marketing campaigns. The decrease in sales and marketing expenses compared to the third quarter of 2011 is due to a lower intensity of marketing during the Christmas season.

General and Administrative expenses consist of salaries, premises costs for our office, legal and professional fees, and other general corporate and office expenses. General and administrative expenses were $137,607 during the fourth quarter of 2011, a decrease of 44% from general and administrative expenses of $245,175, in the fourth quarter of 2010 and a decrease of 6% from expenses of $146,137 for the third quarter of 2011. General and administrative expenses have decreased since joining the Unibet Partner Program as it has enabled us to reduce many of our costs.

The net income after taxation for the three months ended December 31, 2011, amounted to $31,093, a gain of $0.00 per share, compared to a net loss of $260,682 or $0.01 per share in the fourth quarter of 2010 and an increase of 105% on a profit of $15,158 or $0.00 per share in the third quarter of 2011.

We had cash of $787,524 and working capital of $1,059,086 at December 31, 2011. This compares to cash of $1,396,384 and working capital of $1,723,393 at December 31, 2010, and cash of $938,199 and working capital of $1,020,241 at September 30, 2011.

For full details of the Companies operations and financial results, please refer to the Securities and Exchange Commission website at www.sec.gov or the Bingo.com website at http://www.bingo.com.

About Bingo.com

Bingo.com, Ltd. (OTC BB: BNGOF) is the parent company of the Bingo.com group of companies which own the popular online gaming community http://www.bingo.com. The Bingo.com website offers multiplayer bingo, slot machines, sweepstakes, and more. Players come together from around the world to chat, share, play and win at Bingo.com. The Bingo.com website has attracted millions of visitors from over 200 countries and is one of the most recognized and most visited bingo entertainment destinations on the Internet. Bingo.com operates its multi-language and multi-currency bingo and casino system as part of the Unibet partner program (http://www.poweredbyunibet.com).

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company’s filings with the Securities and Exchange Commission. Specifically, readers should read the Company’s Annual Report on Form 10-K, filed with the SEC on March 21, 2011, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, for a more thorough discussion of the Company’s financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Bingo.com, Ltd.

For more information contact:

• Henry Bromley
• CFO
• ir@bingo.com
• (264) 461-2646

BINGO.COM, LTD.

Unaudited Consolidated Balance Sheets

BINGO.COM, LTD.

Unaudited Consolidated Statements of Operations For the periods ended December 31, 2011 and 2010

BINGO.COM, LTD.

Unaudited Consolidated Statements of Stockholders’ Equity For the year ended December 31, 2011 (Unaudited)

BINGO.COM, LTD.

Unaudited Consolidated Statements of Cash Flows For Year Ended December 31, 2011 and 2010