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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.
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.
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