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BINGO.COM PROFITABLE AT LAST

Thursday August 18,2011 : First profitable quarter since Q2-2006, but there's a long way yet to go.
 
Investors in the online bingo company Bingo.com probably raised a Halleluiah! or two this week when the company's second quarter results showed a profit - the first quarter to do so since Q2-2006!
 
Financial results for the second quarter ended June 30, 2011 included:
 
* First profitable quarter since the second quarter of 2006.
 
* Net income for the three months ended June 30, 2011 of $8,520 compared to a net loss of $743,332 in the first quarter of 2011.
  
* Revenue of $363,492, an increase of 47 percent from revenue of $247,044 in the first quarter of 2011.
 
* Operating costs before interest, and depreciation expenses, including sales and marketing and general and administrative expenses were $354,947 in the second quarter of 2011, a decrease over operating costs of $987,749 in the first quarter of 2011 and a decrease over operating expenses of $425,892 in the second quarter of 2010.
 
* Sales and marketing expenses were slashed to $161,142 for the quarter, a decrease from expenses of $496,679 in the first quarter of 2011.
 
* The company had cash of $886,428 and positive working capital of $1,002,277 at June 30, 2011, compared to cash of $1,396,384 and positive working capital of $1,723,394 at December 31, 2010.
 
* Over 1,997,500 registered users
 
"Bingo.com has returned to profitability in the second quarter of 2011", said Jason Williams, Bingo.com's CEO. "In the first quarter of 2011, we completed the restructuring of Bingo.com's strategy, technology, and personnel and are pleased to see the positive results that have been achieved.
 
"As a member of the Unibet partner program, Bingo.com's international player acquisitions and revenues have greatly improved. The combination of a multi-language and multi-currency approach with a wide selection of premium bingo and casino games has resulted in high player values from a number of countries.
 
"With the launch of Bingo.com's marketing initiatives in January 2011 and the rise of our active player base, Bingo.com's revenues have climbed steadily. Now with higher revenues and lower operating costs, Bingo.com has been able to secure its first profitable quarter since the second quarter of 2006. Moving forward, Bingo.com will continue to invest in targeted marketing initiatives with the intention of growing revenues and profits."



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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