Bingos.com has been sold
UK based Netplay TV announced it has splashed the cash on Bingos.com, a pan-European online bingo operator, Netplay has reportedly spent £6.25M on the company. Which if you think Netplay's market cap is near £13m they have bet the house on this working out.
NetPlay TV will buy the trade and assets of the Bingos business from Global Gaming Entertainment NV and Euro Gaming Ltd, and the entire share capital of Quantum Factory SL for £6.25 million.
The interactive gaming company said Bingos has over one million registered players, adding the players are currently spending over 10 mln stg per month, with 9.6 mln stg being paid out in prizes. So its possible the Gross Gaming Revenue for the company is around £400,000 beofre costs per month.
In the previous 12 months, Bingos generated just over £1 M profit on gross bets of £145 M. In the same period, it paid over 138 mln stg in prizes to its customers.
That is a small profit compared to monthly takings which is probably down to the TV advertsing and online partnership deal costs faced by bingos.co.uk used to generate new users.
Categories
Bingo NewsTop Bingo Sites
Leave a comment