Bingo.com Ltd, the Anguilla, British West Indies-based operator of the free online bingo site www.bingo.com, presented its quarterly results for the quarter ending March 31, 2005. Revenues increased 64% over Q1 2004’s $246,189 to $403,551. With over one million registered users and 800 new users joining each day, Bingo.com is one of the largest online bingo portals.

The company plans to offer pay-to-play online bingo games in the near future. The preparations for the move to cash bingo and casino games included a merger with Bingo.com's subsidiary and moving the company to Anguilla. In addition, set up and operation costs for the new cash bingo games cut deeply into Bingo.com’s net profits, which were $63,591 in Q4 2004, and dropped drastically to $32,209 in Q1 2005.

When asked for comments about the quarter, Tarrnie Williams, Bingo.com’s CEO, said, "Our continued quarter by quarter increase in revenue is very satisfying. We look forward to continued growth accelerated by the upcoming launch of our new cash bingo games."