Bingo.com has just released its third quarter financial reports. As reported by the company’s CEO, Tarrnie Williams, the quarter “was one of transition.” According to Williams, the initial phase of the company’s revised business plan is underway. Costs have been reduced, net losses have been lowered, and the final 4% of payments for the domain name Bingo.com have been made.
The second stage of the plan has commenced and includes creating an innovative marketing campaign for Bingo.com and joining forces with Unibet to perfect the online bingo brand and product.
Finally, the third phase of the business plan will begin in 2011 first quarter when the company plans to launch a media strategy in targeted markets that will supply Bingo.com with optimal returns on investment and the best chance of profit returns.
During the second quarter of this year, Bingo.com migrated their players to the Unibet partner program, making this the second change in platform the site had undergone in six months, thus decreasing cash game play. Because advertising sales in each quarter produced a loss, in March the company suspended new advertising sales.
Operating expenses also depreciated, due in fact to a drop in sales and marketing expenses, specifically marketing bonuses given to players after the Unibet migration where significantly lower bonuses are given.
Bingo.com offers online slots, multiplayer bingo, sweepstakes, and excellent promotions for new and existing members. It is a virtual place where online players from all over the world convene to share, chat, play, and win. In fact, more than 1.99 million users are registered at Bingo.com, as it is one of the most popular and most visited online bingo entertainment destinations on the Net. With multi-language and multi-currency bingo operations and a casino system linked to the Unibet program, Bingo.com is one of the most sought after bingo and gambling websites out there.