Bingo.com, Ltd. (BNGOF.OB) Announces Selection of Cozy Games as New Software Provider

 @ibtimes
on January 15 2010 6:28 AM

Bingo.com, Ltd., operator of the online gaming community http://www.bingo.com, announced this morning that it has selected Cozy Games to be its new core software platform for bingo, slots, and other casino games. The games are now available to everyone at the Bingo.com website after a smooth transition to the new system.

“We’re excited to be live on the Cozy Games system,” stated Tarrnie Williams, Bingo.com’s CEO. “We believe that with an improved bingo product, the addition of over 30 new slots games, the upcoming availability of our games over smart phones, and many other advanced features, Bingo.com will experience greater player values from both our existing and new players. Furthermore, we believe that with the Cozy Games software, Bingo.com is in an excellent position for continued growth by capturing market share from other operators due to having a unique and competitive product. The Cozy Games system also provides full multi-language and multi-currency support enabling Bingo.com to continue its expansion into new markets.”

“We believe the decision to move to the Cozy Games platform will enable us to implement the next phase of our strategic plan for Bingo.com,” commented Mr. Williams. “When we entered the UK market we had to start again from scratch after leading the US market in online bingo. Our plan was to acquire as many players as possible in a cost effective manner utilizing the strength of the Bingo.com URL and a generous bonus structure. We believe we have achieved that task, having registered over 600,000 non- North American players – all of which was accomplished in a highly competitive market and in a challenging economic climate.”

“The time has come to concentrate not solely on growth, but on a return to the profitability we enjoyed previously,” he continued. “We believe this can be achieved, but will result in lower revenues going forward as we tighten the gaming incentives provided to new players. Over the past several months we have spent considerable resources in preparing for the switch of gaming platforms. We have modified our staffing to realize both cost savings and a better alignment to focus on this phase of our strategic plan. We have secured new servers in Malta where we recently received our Class 1 and Class 3 licenses enabling us to legally provide and market online Internet gaming throughout the UK. We will also soon be implementing a new social networking system integrated with the Cozy Games platform to facilitate the acquisition of new players to complement the Facebook(TM) (www.facebook.com) and Twitter(TM) (www.twitter.com) pages we have created and maintain.”

“We believe Bingo.com is well positioned to capitalize on the next phase of our plan in the high growth and high value online bingo marketplace,” Williams concluded.

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