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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."
 



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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