Bingo.com Results

"Month over month, since commencing gaming operations in the United Kingdom on April 23, 2007, we have grown our customer base, increased our market share, and reduced our operational expenses on a percentage of revenue basis, all of which has significantly increased our revenue and helped to reduce our quarterly loss as we work to return to profitability."

Highlights for the quarter include:

- Added a 'Speed Bingo' 80 ball bingo room to our offering.

- Gaming Revenue increased from $265,650 in the second quarter of 2007 to $1,048,338 in the third quarter of 2007.

- Reduced Loss from $535,912 in the second quarter of 2007 to $399,528 in the third quarter of 2007.

Financial Results:

Total revenue increased to $1,083,099 for the quarter ended September 30, 2007, an increase of 290% from revenue of $277,650 in the second quarter of 2007, with gaming revenue increasing from $265,650 to $1,048,338 and advertising revenue growing from $12,000 to $34,761 in the third quarter of 2007.

Cost of revenue increased to $484,521 during the third quarter of 2007, an increase of 181% compared to costs of $172,176 in the second quarter of 2007. Cost of revenue primarily consists of bonuses granted on deposits made by our players to encourage them to continue to play on our website. The awarding of deposit bonuses is required both to be competitive with other bingo-oriented websites and to build a large customer base as quickly as possible. Sales and marketing expenses increased to $640,660 during the third quarter of 2007, an increase of 108% over expenses of $308,240 in the second quarter of 2007. These costs include sign up bonuses and incentives, commissions, advertising, and other promotional expenses intended to increase our subscriber base and improve gaming revenue. General and Administrative expenses consist of salaries, premises costs for our office, legal and professional fees, and other general corporate and office expenses. These expenses increased to $360,469 for the third quarter of 2007, an increase of 12%, from $320,474 in the second quarter of 2007.

Net loss for the three months ended September 30, 2007, amounted to $399,528, a loss of $0.01 per share, compared to a net loss of $535,912 or $0.02 per share in the second quarter of 2007. We had cash of $960,592 and working capital of $819,387 at September 30, 2007. This compares to cash of $1,243,308 and working capital of $1,180,150 at June 30, 2007.

Bingo.com, Ltd. operates the popular web portal offering online games world wide including multiplayer bingo, video poker, sweepstakes, slot machines, and more.