Second Quarter Results for Online Casino Bingo Site
Bingo.com, a popular online casino which operates multiplayer bingo, video poker, sweepstakes and slot machines has announced its financial highlights for the second quarter ending June 30th. With over 1,650,000 registered online casino players and more than 800 new users everyday, and it seems as if things are looking up for the online bingo giant, as they are positioning themselves wisely in the world of online casinos, despite the shift in its advertising focus.
The results the online casino is showing include an online gaming revenue increase of 49 percent from the first quarter to $883,127, with total revenue increasing 26 percent to $896,277. The company achieved its eighth consecutive positive quarter with a recorded profit of $55, 549, a 199 percent increase on the first quarter.
The Bingo online casino is content with their move from an advertising based business to a more bingo focused business and they strongly believe that quality online bingo is the key to their success. The change resulted in a 97 percent decrease in advertising revenue from $413,978 in the same period last year, to $13,150 this time around. Operating costs before interest and depreciation expenses increased to $590,324 in the period, an increase of 17 percent over operating costs of $505,931 in the first quarter of 2006.