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March 10, 2009 Online Casino News:
Stock Placement Completed
The online casino Bingo.com is pleased
to announce that they have completed
their stock placement. Their parent
company, Bingo.com Limited took 3.5
million shares of the online casino and
offered them at $0.15 each. This enabled
them to raise more than a half of a
million dollars, bringing in a total of
around $525,000.
The Antigua based online casino sold the
shares to non United States’ residents,
under Regulation S exemptions. They said
that they were excited to be able to
sell as many as they did and for it to
go as well as it did. They said that
they were not sure how it might work out
for them because of the tough times
going on with the economy, and were
pleasantly surprised to sell as much as
they did.
They say that this sale of their online
casino stocks will help them “alleviate
the currency risks recently encountered
as [they] move toward profitability.”
They are going to use the money from the
sale of the online casino stocks to fund
their expansion. They are trying to move
into the online casino market elsewhere
in the world. They are well established
in the United Kingdom, and are thrilled
that they now have this ability to take
it further.
The online casino is going to be
offering games in various languages as
well as allowing major currencies to be
deposited. They now have 39,700,203
common shares outstanding after the
sale, and their revenues for last
quarter of last year are $1.32 million.
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