|The operator of the Internet’s leading bingo portal – Bingo.com – has released its financial report for the third quarter ended September 30.|
Highlights of the report include:
• Profit of $46,965, the fifth consecutive positive quarter.
• Total revenue of $465,733, a 2% increase over revenue of $457,339 in the second quarter of 2005.
• Successful completion of the first full quarter of Cash Bingo gaming operations.
• Cash Bingo revenue of $197,873, an increase of 356% over Cash Bingo revenue of $43,361 that was generated over a six week period in the second quarter of 2005.
“Bingo.com has achieved its quarterly objectives of increased profitability and strong gaming revenue growth”, commented Tarrnie Williams, the Company’s CEO. “In the fourth quarter we intend to further reduce our reliance on advertising revenue while continuing to develop and expand the size of our gaming operations.”