Bingo.com, which like almost all Internet gambling companies that catered to US customers, then got out of the US market after the UIGEA passed, suffered greatly from that loss of customers.
The amazing story, however, is the site's recovery.
Fourth-quarter revenues for the site were up 996 percent from last year's fourth-quarter revenues. And the revenues were up 15 percent compared to last quarter.
The site is still experiencing losses ($173K for the last quarter), but they are shrinking in size.
Quote:
Tarrnie Williams, Bingo.com CEO said: “The fourth quarter of 2007 was considerably better than that of 2006. Last year we were scrambling to recover from the forced sale of our US facing gaming business due to the passing of the United States Unlawful Internet Gambling Enforcement Act. This year we are comfortably underway to a return to profitability and have a growing customer base in the regulated market of the United Kingdom.
“We are reducing our loss, quarter by quarter, and are extremely pleased with the positive responses we've received from our new players regarding our new website and games.
“The strength of our URL continues to provide us with new players at a very low acquisition cost compared to the competition and our new software platform has been a hit with the bingo players. While there are many hurdles yet to overcome we are confident that our offering will continue its current rate of growth and that Bingo.com will be a major player in this highly competitive market."
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http://gamingintelligencegroup.com/g...nt/view/858/2/
Bingo.com up 10-fold from same quarter last year
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