Bingo.com Closes $2,250,000 Private Placement from Unibet
Bingo.com, Ltd. (BNGO.F 0.17, +0.01, +6.25%) , owner of the popular online gaming community http://www.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 (http://www.poweredbyunibet.com) 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.
About Bingo.com
Bingo.com, Ltd. (BNGO.F 0.17, +0.01, +6.25%) is the parent company of the Bingo.com group of companies which own 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 1,975,000 registered users http://www.bingo.com is one of the most recognized and most visited bingo entertainment destinations on the Internet.
About Unibet
Unibet was founded in 1997 and is an online gambling company that is listed on NASDAQ OMX Nordic Exchange in Stockholm. Unibet is one of the largest privately-owned gambling operators in the European market and provides services in 27 languages through www.unibet.com. Today, Unibet has more than 4.1 million customers in over 100 countries. Unibet is a member of the EGBA, European Gaming and Betting Association, RGA, Remote Gambling Association in the UK and is certified by G4, Global Gaming Guidance Group.
In December 2007, Unibet acquired Maria Holdings (www.mariabingo.com), the largest online bingo operator in the Nordic market, and in April 2008 acquired Scandinavia's largest trotting community, Travnet.
More information about Unibet Group plc can be found on www.unibetgroupplc.com.
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, 2010, 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.
