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New Loss For Bingo.com Third Quarter

Thursday October 31,2013 : BINGO.COM REPORTS NET LOSS IN QUARTERLY REPORT
 
Platform migration and a competitive market have negative impact
 
Bingo.com, Ltd has presented its unaudited results for the first nine months ending September 30, 2013 showing an increase in total revenue of 26 percent.  Revenue for the third quarter, however, showed a 1 percent decline compared to the same period last year.
 
Key Highlights for the period include:
 
-     Total revenue of $1,534,211, up 26 percent compared to the 9M/2012 period last year.
 
-     Total revenue for the quarter ended September 30, 2013 was $452,753 (Q3/2012: $457,748), down 1 percent
 
-     Gaming revenue for the quarter ended September 30, 2013 was $446,022 (Q3/2012: $445,237)
 
-     Operating costs before interest, and depreciation expenses, including sales and marketing and general and administrative expenses increased to $548,871 (Q3/2012: $427,773)
 
-     Sales and marketing expenses were $462,974 (Q3/2012: $310,712), up 49 percent
 
-     Net loss for the three months ended September 30, 2013, amounted to ($96,956)
 
-     As of September 30, 2013, cash of $586,273 and positive working capital of $1,071,464
 
Describing the third quarter as challenging, chief executive officer Jason Williams said latent effects of bingo.com's platform migration, an increasingly competitive market environment and the lack of a mobile product impacted negatively on results.
 
A mobile and tablet solution is currently in the pipeline and the company's social casino product Trophy Bingo, currently in the late stages of development following successful beta testing, is expected to launch during the fourth quarter of 2013.
 
"We remain confident in the potential of both our European online gambling operation and our social casino product. For the fourth quarter we have configured our gambling promotions and allocated our marketing budgets to return to revenue growth," Williams said.



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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.

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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 Thursdays 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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