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Bingo.com Doubles Revenue

Tuesday May 15, 2012 : HAS BINGO.COM TURNED THE CORNER?
 
More than doubles revenue and narrows loss
 
Bingo.com has reported another set of upbeat financial results in its Q1/2012 report.
 
Despite posting a net loss, which it attributes to increased investments in marketing, the company posted a 64 percent rise in revenue compared to the same period last year, progressively moving towards a return to profitability.
 
The company's swing in fortunes started after it became a member of the Unibet partner program, boosting its international player acquisitions and revenues.  In May 2010, Unibet bought a 25.9 percent stake in Bingo.com for $2.25 million .
 
Key performance indicators for the Q1/2012 period ending March 31, 2012 include:
 
-           Total revenue of $406 307, an increase of 64 percent (Q1/2011: $247 044)
-           Gaming revenue of $231 177, up 5 percent over the same period last year
-           22 percent rise in advertising revenue amounting to $19 382
-           Net loss amounting to $24 930, indicating a decrease in net loss of 97 percent (Q1/2011: $743 332)
-           Cash of $673 999 and positive working capital of $1 034 388
 
Key operational highlights:
    
-           Delivery of an extensive marketing program in target jurisdictions;
-           Launch of Deal or No Deal Bingo and Lucky Numbers Bingo to Bingo.com's game portfolio;
 
"The first quarter of 2012 saw increased investments into our marketing programs and a resulting increase in revenue," commented Jason Williams, Bingo.com's chief executive officer.
 
"While it's unfortunate to post a net loss for the quarter, our strategy was to make significant investments in marketing and I'm pleased that the loss is small. Our marketing campaigns continue to be effective and our brand well received in our target jurisdictions.
 
“In the second quarter we intend to focus on player retention and with a smaller marketing investment planned, we anticipate a return to profitability."



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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