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BINGO.COM LOSSES CONTINUE IN FULL YEAR 2010 RESULTS
Posted 3/25/11 : Restructuring of resources and business strategy cited for another round of disappointing results.
Bingo.com, Ltd. announced disappointing financial results for the fourth quarter and year ended December 31, 2010 period, this week.
Fiscal highlights for the year ended December 31, 2010 include:
- Total revenue $1 816 804, a decrease of 69 percent (2009: $5 825 362)
- Total gaming revenue of $1 718 257, a decrease of 69 percent (2009: $5 629 529)
- Total loss after tax of $878,972.
Tarnie Williams, CEO, Bingo.com commented on the results:
"2010 was a difficult year of transition for Bingo.com. During the year, Bingo.com embarked on a new strategic direction by joining the Unibet Partner Program and began a complete restructuring of all resources and business strategy. While the initial impact of the strategy on our revenues has been negative, we believe the decision was the correct one and that positive returns will be realized.
"During the fourth quarter of 2010 Bingo.com invested in the creation of a new marketing campaign that launched in select markets during the first quarter of 2011. While some of the cost benefits of the restructuring have been recognized in 2010's results, the expenses anticipated as a result of the transition will not be complete until the end of the second quarter 2011. However as a result of our marketing efforts over the course of the first and second quarters of 2011, we also expect significantly higher revenues."
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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