Bingo.com, operator of several cash and free online bingo sites, released positive results for Q2 2005. Among the achievements for Q2 was the launch of cash bingo games, a private placement offering of about 1.3 million common shares, and purchased two cash bingo websites. Q2 was the fourth quarter in a row in which the company experienced positive cashflow.

In Q2, the company made several other changes, including a merger between Bingo.com Inc and Bingo.com Ltd., now called Bingo.com Ltd, which had been the subsidiary of Bingo.com Inc.

Bingo.com CEO Tarnie Williams said "Bingo.com's transition from advertising to gaming revenue has begun. While only accounting for a small percentage of this quarter's revenue, we anticipate strong growth from our gaming operations moving forward as we continue to phase out the advertising portion of our business."