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Positive Earnings For Bingo.com
Thursday July 25,2013 : BACK IN THE BLACK AT BINGO.COM
Q2 profit is small but promising
After years of battling, online bingo operator Bingo.com had some positive news for investors this week, releasing Q2-2013 results that show a return to profit of $10,449 following a rise of 41 percent year-on-year in revenues to $491,259.
It will be a welcome change; the Anguilla-based firm posted a loss of $471,189 for the first three months of 2013, and the ink was all in red for a negative $28,908 in Q2-2012.
The company will have to watch its costs going forward: operating costs before interest and depreciation expenses rose by 28 percent year-on-year to $479,963, and sales and marketing expenses soared 61 percent over Q2-2012 to $303,239.
Nevertheless, chief executive officer Jason Williams was clearly relieved by the return to black ink, noting:
“We are very pleased with our return to profitability. With an increased focus on retention and monetisation of the players we acquired in the first quarter, we were able to secure a small profit despite reduced gaming activity."
Williams has high hopes for the company's iOS and Android apps in the social gaming space, saying that so far results have been positive and his staff is working on improvements to the social features.
The second milestone Bingo.com achieved during the quarter was the migration of its entire website and gaming technology to a new platform provided by Unibet
"With this migration complete, Bingo.com can now offer its cash players a wider range of casino games, bonuses and other incentives designed to increase player activity,” Williams said.
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Gambling News :
William Hill Chairman Not Stepping Down -
There are no plans for Gareth to step down. He is leading the CEO search process, which is well advanced, and is working with Philip Bowcock to deliver the key priorities for the business.
Canadian Lottery Looking at Online Gambling -
The reaction of other provinces is not known, but the Newfoundland and Labrador government was apparently less than enthusiastic about the prospect, which it did not regard as a priority.
Red Riding Hood Online Slot Launched -
The game, which has already attracted much preview interest, is part of the developers Fairytale Legends series, which the company plans to expand with further titles in 2017.
Super Heroes Slot Launches -
When the feature is triggered, two of the heroes appear on each side of the screen to boost winnings. During free spins, heroes are triggered on every spin, with their super powers growing stronger each time.
Playngo in Deal With Betclic Everest Group -
Swedish online gambling games developer Play’n GO has signed an agreement with the Betclic Everest Group that will see its full suite of games rolled out across the French group’s online casino brands.
2016 Italian Poker Tour main event in Malta -
After besting a field of 775, many of them respected aces, Austrian poker pro Ismael Bojang claimed the main prize of Euro 101,940 over the weekend in the eighth edition of the Euro 1,100 buy-in Italian Poker Tour main event in Malta.
Betradar in Deal with OPAP -
Sports betting data and analytics provider Betradar has inked a live betting supply deal with the major Greek licensed retail and online gambling operator OPAP.
2016 888poker Make It Big Tournament -
A relatively unknown Hong Kong poker player, Ka Him Li (21), claimed victory after a two-way chop in the main event at the inaugural 888poker “Make It Big” live poker festival at the Aspers Casino in London over the weekend, earning the top prize of GBP 45,300.
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