Bingo.com Q3 revenues hit by platform migration
Desktop-only bingo operator records 1% year-on-year revenue decline but expects to launch mobile product soon
Malta-licensed operator Bingo.com has recorded a 1% year-on-year fall in Q3 revenues as the effects of its migration to a Unibet-powered platform continued to take its toll.
Total revenues for the three months ended 30 September stood at US$452,753, a decrease of 1% from $457,748 during the same period last year, while the operator also posted a net loss of $96,596 compared to a net profit of $29,002 in Q3 2012.
Bingo.com CEO Jason Williams described Q3 as being a particularly challenging quarter for the operator due to the platform migration and a lack of a competitive mobile product.
“The quarter was difficult as we had to overcome the latent effects of our platform migration, an increasingly competitive market environment, and the challenge of marketing a desktop-only product suite in a market increasingly dominated by mobile and tablet visitors,” he said.
However, Williams added that it was confident of a return to growth by the end of the year following the expected launch of its mobile and tablet product and worldwide release of its first social casino offering Trophy Bingo.
“Bingo.com has been working closely with its technology provider to ensure that a mobile and tablet solution is delivered soon to ensure players can access the Bingo.com suite of games on all of their devices,” he said. “[Bingo.com’s social casino entry] is currently in late stages of development on a variety of social features which will facilitate increased organic player acquisition.”
Bingo.com’s latest results follow a return to profit for the operator during the last quarter with focus on retention driving the 41% rise in year-on-year revenues. However, revenues were down 17% quarter-on-quarter which Williams attributed at the time to the website’s Unibet-powered platform migration.