Bingo.com, one of the biggest online bingo brands in the world, and
certainly one of the most recognized in the industry, managed to close a private
placement in a bid to raise capital.
The group, which owns the online gaming community, Bingo.com, closed the
placement from Unibet Group of 15 million common shares.
These were closed at the price of 0.15c per share in order to raise net
proceeds of $2.25 million.
"Investing in Bingo.com, one of the strongest bingo brand names in the
industry, is exciting for us," said the Chief Executive Officer of Unibet,
Petter Nylander.
"We believe in the power in the Bingo.com URL and believe that Bingo.com will
be a leader in online bingo for years to come," he added. "We look forward to
growing our businesses together in existing and new markets."
After the shares are issued, they will represent 25.9% of Bingo.com.
"Bingo.com is pleased to have secured a private placement from Unibet," said
the Chief Executive Officer of Bingo.com, Tarnie Williams. "With one of the
world's leading gaming operators as both an investor and operational partner,
Bingo.com will now have the resources to support its brand in a number of
emerging bingo markets."
"We very much look forward to taking on a leading role in the expansion of
online bingo worldwide," said Williams.
