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Unibet Gambles on 25% Stake in Bingo.com

5th May 2010 9:02 am GMT

Bingo.com Limited has announced the closing of a private placement with Swedish online gaming operator Unibet Group plc worth a total of US$2.25m, representing a 25.9 per cent share of Bingo.com.

Bingo.com has already completed private placements worth approximately $954,000 in the past year, but cash resources at the end of 2009 amounted to just $0.5m.

Despite owning one of the strongest brand names in the lucrative online bingo market, Bingo.com has suffered severely following its forced [...]

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