Bingo.com Limited, the owner of online gaming operator Bingo.com, has posted a small drop in year-on-year revenue in the third quarter of 2013 after enduring what it described as a “challenging” three months through to the end of September.
Total revenue for the quarter was $452,753 (€335,373), a decrease of 1% in comparison to the same period last year. Revenue was also down 8% on the second quarter of 2013.
Despite the latest quarterly figures, Bingo.com still remains on course to post a significant increase in revenue for the full year, with revenue up 26% to $1.5 million for the nine months ending September 30, 2013.
The third-quarter results came in the wake of a migration of the Bingo.com domain onto a new gaming platform, a move achieved through a partnership with online gambling operator Unibet Group.
“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,” Bingo.com’s chief executive officer Jason Williams said.
Bingo.com’s social bingo title Trophy Bingo is also in the latter stages of development, with the firm planning to launch it worldwide during the fourth quarter.
“We remain confident in the potential of both our European online gambling operation and our social casino product,” Williams said.
“For the fourth quarter we have configured our gambling promotions and allocated our marketing budgets to return to revenue growth.”
