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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 :

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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