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August 18, 2008
Bingo.com’s total revenue for the 2nd quarter of this year came to $1,415,858 which is a 5% increase on the figures released for the 1st quarter ($1,344,347). It's also an improvement on last year's Q2 figures, which were $1,135,844. The popular online bingo operator also saw a decrease in net loss in the 2nd quarter, down 10% from 1st quarter figures, to $235,188. When comparing to the previous year's 4th quarter loss of $336,969 this is a huge improvement. The Q2 figures for the company's operating costs are 9% higher than the Q1 figures, at $753,403, due mainly to the increase in sales and marketing expenses, plus the enhanced bonus offers offered to players. In the announcement, Bingo.com confirmed that the company has made "some important strides towards returning profitability." "We acquired thousands of new real-money players, increased our revenues, decreased our net loss, and further developed the entertainment available at Bingo.com," said CEO Tarrnie Williams. The company is focusing efforts on expanding its product into new markets, including the lucrative British bingo market, for which it hasn't yet obtained licensing status to enable advertising in the UK. Written by Charlene Grey – for the best bingo promotions and free bingo games come to BingoStreet.com
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