Bingo.com reports results

"The fourth quarter of 2007 was considerably better than that of 2006," said Tarrnie Williams, the Company's CEO. "Last year we were scrambling to recover from the forced sale of our US facing gaming business due to the passing of the United States Unlawful Internet Gambling Enforcement Act. This year we are comfortably underway to a return to profitability and have a growing customer base in the regulated market of the United Kingdom. We are reducing our loss, quarter by quarter, and are extremely pleased with the positive responses we've received from our new players regarding our new website and games. The strength of our URL bingo.com continues to provide us with new players at a very low acquisition cost compared to the competition and our new software platform has been a hit with the bingo players. While there are many hurdles yet to overcome we are confident that our offering will continue its current rate of growth and that Bingo.com will be a major player in this highly competitive market."

Bingo.com highlights of the fourth quarter of 2007 included:

* Total revenue of $1,135,844, an increase from total revenue of $989,576 in the third quarter of 2007 and $238,025 in the second quarter of 2007.

* Reduced Loss to $173,262 in the fourth quarter of 2007 from $395,787 in the third quarter of 2007 and $534,327 in the second quarter of 2007.

* Two £10,000 jackpot winners

* Total Revenue for 2007 of $2,369,745.

Total revenue for the quarter ended December 31, 2007, increased to $1,135,844, a significant increase from revenue of $103,630 for the same period in the prior year and an increase of 15% from revenue of $989,576 in the third quarter of 2007. Of the $1,135,844 revenue for the quarter, the gaming operations provided revenue of $1,045,259, an increase from gaming revenue of $94,780 in the fourth quarter of 2006 and an increase of 9% from gaming revenue of $954,815 in the third quarter of 2007. This increase compared to the fourth quarter of 2006, is solely due to the Company selling its US based gaming business, effective October 12, 2006, in response to the United States Unlawful Internet Gambling Enforcement Act of 2006, after which the Company had no gaming Revenue until April 20, 2007 at which time it commenced its online gaming operation in the United Kingdom. The increase compared to the third quarter of 2007, is due to an increase in player base.

The advertising revenue for the quarter ended December 31, 2007, was $90,585, a significant increase from advertising revenue of $8,850 in the fourth quarter of 2006 and an increase of 161% from advertising revenue of $34,761 in the third quarter of 2007.

This increase in advertising is due to the Company finding new sources of advertising customers. Cost of revenue increased to $783,883 during the fourth quarter of 2007, an significant increase compared to cost of revenue of $37,072 in the fourth quarter of 2006 and an increase of 74% from cost of revenue of $451,187 during the third 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.