http://calvinayre.com/2010/07/26/casino/people-present-online-bingo/#utm_source=rss&utm_medium=rss&utm_campaign=rss Online Gambling News Sat, 26 May 2012 00:29:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://calvinayre.com/2010/07/26/casino/people-present-online-bingo/comment-page-1/#comment-37531 Business news | Paddy Power TV app ready to launch Thu, 23 Feb 2012 03:43:54 +0000 http://calvinayre.com/?p=54669#comment-37531 [...] Bingo.com narrowed its losses in 2011 by almost $200,000 and will be encouraged by Q4 results. The company’s balance sheet showed net loss was down to $688,561 from $878,972 the year before. Unfortunately total revenue for the year took quite the hit as it dipped from $1,816,804 in 2010 to a disappointing $1,416,658. Q4 showed it wasn’t all doom and gloom with revenues up 251% year-on-year to $389,390 thanks to an increase in cash game players. There was also a total profit of $31,093 for Q4, comparing favorably with a loss of $260,682 in the previous year. CEO Jason Williams added: “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.” [...] [...] Bingo.com narrowed its losses in 2011 by almost $200,000 and will be encouraged by Q4 results. The company’s balance sheet showed net loss was down to $688,561 from $878,972 the year before. Unfortunately total revenue for the year took quite the hit as it dipped from $1,816,804 in 2010 to a disappointing $1,416,658. Q4 showed it wasn’t all doom and gloom with revenues up 251% year-on-year to $389,390 thanks to an increase in cash game players. There was also a total profit of $31,093 for Q4, comparing favorably with a loss of $260,682 in the previous year. CEO Jason Williams added: “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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