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Bingo.com records sixth consecutive annual loss

02/22/2012 :  BINGO.COM IMPROVES RESULTS
 
But still records sixth consecutive annual loss
 
Bingo.com, Ltd. presented its unaudited financial results for the fourth quarter 2011 showing an improvement in fortunes following a restructuring but not enough to escape its sixth consecutive annual loss.
 
Key performance indicators for the quarter ended December 31, 2011 include:
 
-     Third consecutive profitable quarter;
 
-     Total profit of $ 31 093 (Q4/2010: $ -260 682).
 
-     Total revenue amounted to $389 390 (Q4/2010: $110 884), indicating an increase of 251 percent.
 
-     Gaming operations provided $367 560 towards total revenue (Q4/2010: $93 128), an increase of 295 percent which was attributed to an increase in cash play following increased marketing efforts.
 
-     General and administrative expenses were $137 607, a decrease of 44 percent over Q4/2010.
 
Jason Williams, chief executive officer of Bingo.com commented: "2011 was a pivotal year for Bingo.com. During the first quarter, Bingo.com completed its restructuring initiatives and launched an aggressive new marketing campaign. The execution of these two strategies resulted in a large loss for Q1-2011, but set the stage for Bingo.com's return to profitability.
 
"While we are concentrating on retaining profitability in 2012, our major focus will be to increase revenues and market share. Therefore, we will be investing significant resources into our marketing programs in the first quarter of 2012, which could result in a net loss for the quarter. However, we expect to continue to see long term positive returns on our marketing investments and believe that our current strategy is the correct one."



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$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

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NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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