News

Unibet acquires stake in Bingo.com

5 May 2010


LONDON, England -- (PRESS RELEASE) -- Bingo.com, Ltd., owner of the popular online gaming community Bingo.com, today announced it has closed a private placement from Unibet Group plc of 15 million common shares at $0.15 per share to raise net proceeds of $2,250,000. After issuance, the private placement represents 25.9% of Bingo.com. These shares were placed with Unibet Group plc, which is a non-U.S. resident under Regulation S exemptions.

"Bingo.com is pleased to have secured a private placement from Unibet," said Tarrnie Williams, Bingo.com's CEO. "With one of the World's leading gaming operators as both an investor and operational partner, Bingo.com will now have the resources to support its brand in a number of emerging online bingo markets. We very much look forward to taking on a leading role in the expansion of online bingo worldwide."

"Investing in Bingo.com, one of the strongest bingo brand names in the industry, is exciting for us. We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come. We look forward to growing our businesses together in existing and new markets," says Petter Nylander, CEO Unibet.

Unibet has developed an online gaming platform and offers partners to be part of a bingo & casino network, based on leading software, social media features and all the components needed to offer a turn-key gaming solution.