4th of September 2010 Author: Glo Wood
$900 000 in shares paid for 'Bingo.com' domain
Toronto-listed online bingo provider Bingo.com has come to the conclusion that buying its distinctive domain is a better bet than renting it, paying shares to the value of $900 000 for ownership to the former owner Bingo Inc.
Bingo Inc., allowed Bingo.com to use the domain for some ten years in return for a payment equal to 4 percent of gross profits since January 18, 1999.
The companies agreed on the acquisition value of the domain after an assessment by an independent third party, which suggested that the value could be as high as $1.4 to $1.6 million.
Bingo.com chief executive Tarnie Williams said: 'The successful acquisition of the remaining domain name payments owing to Bingo, Inc., at a substantial discount to the independent valuation, is another step in simplifying the operations of Bingo.com and a further strengthening our balance sheet.'
Slots.com recently sold (it is believed to the Bodog group) for $5.5 million.
Unibet holds a 25.9 percent in Bingo.com, which it bought earlier this year for $2.5 million .
Bingo Society News General Bingo News
1st of January 2015
10th of May 2011
18th of December 2018
17th of December 2018
7th of November 2018
16th of October 2018
1st of November 2018
15th of October 2018
18th of October 2018
Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
Disclaimer Contact Us Privacy Terms and Conditions Gambling Help About Us Site Map Trusted Portals
LatestBingoBonuses.com © 2006-2018
Enter your email adress:
T&C's Apply. 18+
Do not show this again
You have been successfully subscribed to receive LBB newsletter!