January 15, 2010
ANGUILLA, B.W.I., January 15, 2010 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the popular online gaming community http://www.bingo.com, today announced that it has selected Cozy Games to be its new core software platform for bingo, slots, and other casino games. The games are now live at the Bingo.com website after a smooth transition to the new system.
“We’re excited to be live on the Cozy Games system,” said Tarrnie Williams, Bingo.com’s CEO. “We believe that with an improved bingo product, the addition of over 30 new slots games, the upcoming availability of our games over smart phones, and many other advanced features, Bingo.com will experience greater player values from both our existing and new players. Furthermore, we believe that with the Cozy Games software, Bingo.com is in an excellent position for continued growth by capturing market share from other operators due to having a unique and competitive product. The Cozy Games system also provides full multi-language and multi-currency support enabling Bingo.com to continue its expansion into new markets.”
“We believe the decision to move to the Cozy Games platform will enable us to implement the next phase of our strategic plan for Bingo.com,” commented Mr. Williams. “When we entered the UK market we had to start again from scratch after leading the US market in online bingo. Our plan was to acquire as many players as possible in a cost effective manner utilizing the strength of the Bingo.com URL and a generous bonus structure. We believe we have achieved that task, having registered over 600,000 non-North American players – all of which was accomplished in a highly competitive market and in a challenging economic climate.”
“The time has come to concentrate not solely on growth, but on a return to the profitability we enjoyed previously. We believe this can be achieved, but will result in lower revenues going forward as we tighten the gaming incentives provided to new players. Over the past several months we have spent considerable resources in preparing for the switch of gaming platforms. We have modified our staffing to realize both cost savings and a better alignment to focus on this phase of our strategic plan. We have secured new servers in Malta where we recently received our Class 1 and Class 3 licenses enabling us to legally provide and market online Internet gaming throughout the UK. We will also soon be implementing a new social networking system integrated with the Cozy Games platform to facilitate the acquisition of new players to complement the Facebook™ (www.facebook.com) and Twitter™ (www.twitter.com) pages we have created and maintain.”
“We believe Bingo.com is well positioned to capitalize on the next phase of our plan in the high growth and high value online bingo marketplace.”
For full details of the Company’s operations and financial results, please refer to the Securities and Exchange Commission website at www.sec.gov or the Bingo.com website at http://www.bingo.com.
Cozy Games Managing Director, Sreeram Vanga, commented, “Bingo.com has quickly established itself as a major player in the UK Online Bingo after leaving the US Market. Players at Bingo.com will be able to access a variety of top quality bingo games, as well as a host of casino games, all of which provide players with the ultimate Bingo experience and community. We take great pride in giving our operators the strongest competitive edge, be it through game variety, quality, or technical sophistication, and this latest signing is yet further proof of the appeal of our unique partnership approach. We are committed in delivering the most exciting and rewarding online bingo experience to Bingo.com players, and are very much looking forward to being part of the site’s success story.”
Bingo.com, Ltd. (NASD OTCBB: BNGOF.OB) is the parent company of the Bingo.com group of companies which operates the popular online gaming community http://www.bingo.com. The Bingo.com group offers multiplayer bingo, slot machines, sweepstakes, and more. Players come together from around the world to chat, share, play and win at Bingo.com. With over 1,990,000 registered users worldwide http://www.bingo.com is one of the most recognized and most visited bingo entertainment destinations on the Internet.
About Cozy Games
Cozy Games is an integrated gaming solutions provider founded in 2005 by a team of gaming industry veterans. Cozy Games has established alliances and partnerships with leading companies in gaming and product development. Our product suite includes a large selection of bingo games, classic and video slots, table games, scratch cards and network jackpot games. All games are available under 1 account across various platforms (web, mobile and IVR). Cozy Games is focused on setting the highest standards in the gaming industry.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company’s filings with the Securities and Exchange Commission. Specifically, readers should read the Company’s Annual Report on Form 10-K, filed with the SEC on March 31, 2009, and Form 10-K/A filed with the SEC on December 7, 2009, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, for a more thorough discussion of the Company’s financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Bingo.com, Ltd.
For more information contact:
- Henry Bromley
- (264) 461-2646