Bingo.com Inc (fka BIGR)

[SmokingUSA]

Press Release Source: Bingo.com, Inc.


Bingo.com Announces Third Quarter Profit
Monday November 15, 4:44 pm ET


VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 15, 2004--Bingo.com, Inc. (OTCBB:BIGR - News)
Company Achieves Profitability for First Time in Corporate History

Bingo.com, Inc. operator of the Internet's pre-eminent bingo portal, today announced its financial results for the third quarter ending September 30th, 2004. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.

Revenue increased to $274,758 for the quarter ended September 30, 2004, an increase of 16% from revenue of $236,758 for the same period in the prior year and an increase of 11% from revenue of $247,752 for the second quarter of 2004. The Company has increased its advertising rates by approximately 10% overall from the prior year and obtained a greater number of individual advertisers, thereby providing a more diverse and increased revenue stream.

Operating costs before interest expenses were $156,522 for the quarter ended September 30, 2004, an increase of 14% compared to costs of $137,382 for the same period in the prior year and an increase of 17% compared to costs of $133,605 for the second quarter of 2004. This increase in operating costs compared to the prior year was due to increased legal expenses incurred during the quarter and due to the weakness in the United States dollar in comparison to the Canadian dollar.

Net profit for the three months ended September 30, 2004, amounted to $40,415, a gain of $0.00 per share, compared to a loss of ($26,382) or ($0.00) per share for the same period in 2003 and compared to a loss of ($137,168) or ($0.01) per share in the second quarter of 2004. The company's commitment to cost controls and revenue growth has proved successful. For the first time in corporate history, Bingo.com has recorded a fully profitable quarter.

"I am excited to see the positive results that our revenue growth and cost containment initiatives have achieved," remarked Tarrnie Williams, the Company's President and CEO. "It is rewarding to achieve our first positive quarter and I look forward to continuing this profitable trend into the future."

About Bingo.com

Bingo.com, Inc. operates the popular web portal www.bingo.com offering free games including multiplayer bingo, video poker, sweepstakes, slot machines, and more. With over 1,000,000 registered users and more than 800 new users everyday, www.bingo.com is one of the most recognized and most visited Bingo entertainment destinations on the web.

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 26, 2004 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, Inc.



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Contact:
Bingo.com, Inc.
Henry Bromley
[phone]
Fax: [phone]
Email: [e-mail]
Website: www.bingo.com