Online bingo operator to use funds to expand beyond its UK market beginning with Spain.
Thursday 29th May 2008
Online bingo operator Bingo.com Limited has announced that it has raised $600,000 by placing two million common shares at 30 cents a piece in order to fund a planned expansion beyond the UK.
Anguilla-based Bingo.com stated that it had over 1.8 million registered users with the new shares placed with non-US residents under Regulation S exemptions.
'Proceeds from the offering will be used to fund our expansion beyond the United Kingdom market,' said Tarrnie Williams, Chief Executive Officer for Bingo.com.
'In the near future, we will be launching a Spanish version of our website and allowing players to deposit in various different major currencies. These initiatives will enable Bingo.com to continue to grow and expand its market share.'
Online bingo operator Bingo.com Limited has announced that it has raised $600,000 by placing two million common shares at 30 cents a piece in order to fund a planned expansion beyond the UK.