Bingo.com Reports 565 Percent Jump in Booked Gross Revenues; Company Increases Available Advertising Inventory by 800 Percent.Business Editors and High-Tech Writers MARINA DEL REY Del Rey may refer to:
Bingo.com Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BIGR), the quintessential quin·tes·sen·tial adj. Of, relating to, or having the nature of a quintessence; being the most typical: "Liszt was the quintessential romantic" Musical Heritage Review. bingo-based entertainment site and leader in Internet data accumulation, Wednesday announced a dramatic increase in booked gross revenue for the month of April. This remarkable revenue growth is attributed to successful branding and promotional programs. Bingo.com has succeeded in building brand awareness, which has created numerous revenue opportunities including multiple advertising revenue streams. By expanding the inventory of advertising opportunities on its games, along with continually broadening the site's content and features, the company is able to offer advertisers greater opportunities for target marketing. "Based on current operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. and the growth curve of Bingo.com's advertising revenue model, the company expects to be profitable from advertising revenue alone by the third quarter of 2000. A substantial percentage of Bingo.com's revenue has been generated by prominent advertisers and promotional partnerships, and the company plans to maximize its profit potential by implementing other innovative revenue-generating products," said Shane Murphy, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bingo.com. "As a result of the company's continued expansion efforts and the quantifiable Quantifiable Can be expressed as a number. The results of quantifiable psychological tests can be translated into numerical values, or scores. Mentioned in: Psychological Tests increase in the popularity of the Web site by consumers, Bingo.com believes the revenue opportunities will continue to grow substantially. Bingo.com's ability to minimize current expenditures coupled with the large amount of inventory available, has allowed the company to experience this dynamic increase in booked gross revenues. This revenue stream is a notable indicator of Bingo.com's ability to aggressively and proactively work towards fulfilling its financial goals leading to the financial success Bingo.com is seeking to achieve by the third quarter of 2000." Entertainment and game sites have become increasingly popular and are showing unprecedented growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. and value within the World Wide Web. Bingo.com is leveraging its Internet presence into a more comprehensive game arena where visitors will be able to play a variety of bingo-based games and enjoy the chance to win points, which can translate into a variety of prizes. With an average per-user session in excess of 60 minutes, Bingo.com provides one of the most enjoyable game experiences currently available on the Internet. For more information about Bingo.com, visit the company's Web site at www.bingo.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This announcement contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors including the ability of the company to successfully commercialize its new technologies as well as risk factors set forth under "Factors Affecting Future Operating Results" in the company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and such other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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