$2.25 MILL CAPITAL INFUSION FOR BINGO.COM
5/5/10 – The recent news that Bingo.com had joined the Unibet bingo network has been followed by an announcement that Unibet has strengthened the bond with a significant investment in the bingo provider.
Bingo.com revealed this week that it has closed a private placement from Unibet Group plc of 15 million common shares at $0.15 per share to raise net proceeds of $2 250 000. The deal will give Unibet a 25.9 percent chunk of Bingo.com..
"Bingo.com is pleased to have secured a private placement from Unibet," said Tarrnie Williams, Bingo.com's CEO. "With one of the world's leading gaming operators as both an investor and operational partner, Bingo.com will now have the resources to support its brand in a number of emerging online bingo markets. We very much look forward to taking on a leading role in the expansion of online bingo worldwide."
"Investing in Bingo.com, one of the strongest bingo brand names in the industry, is exciting for us. We believe in the power of the Bingo.com url and believe that Bingo.com will be a leader in online bingo for years to come. We look forward to growing our businesses together in existing and new markets," said Petter Nylander, CEO Unibet.
Unibet has developed an online gaming platform at Powered By Unibet.com and offers partners the opportunity to join its bingo network, which includes Bingo.com, Maria Bingo and Bingo.se.
Bingo.com’s claimed 1 975 000 users should provide a substantial boost to the Unibet bingo initiative as one of the most recognisable and visited bingo entertainment destinations on the Internet.