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Bingo.com Earnings Down
Tuesday, September 4, 2012 : BINGO.COM BACK IN THE DOLDRUMS
Q2-2012 contributes to a year-on-year decline of 4 percent
The relief of Bingo.com investors, who earlier this year celebrated a 64 percent year-on-year rise in revenues at the famously unsuccessful operator, was short-lived following the recent news that Q2-2012 revenues fell to $347,743, contributing to a 4 percent year-on-year decline so far.
Chief executive officer Jason Williams blamed under-performing casino activity and currency fluctuations as the main culprits in the slide, saying:
“Our strategy with the second quarter was to reduce our marketing costs and focus on player development and retention, which was successful.
"While we achieved our objective of improving our total operating margin, low gross margins in our casino products late in the quarter and a negative impact from currency fluctuations combined to give us a net loss for the quarter."
Williams remains hopeful that the company, which is part-owned by Unibet the Nordic Gaming Group, will manage to post a net profit by year-end, revealing that Q3-2012 trading has started well.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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