Citing strong gaming revenue growth, Bingo.com Ltd. CEO, Tarrnie Williams said that his company “has achieved its quarterly objectives of increased profitability.” Indeed, Bingo.com's third quarter results reflected the company's general growth trend.

The site's financial report showed a 2% revenue increase from the second quarter to $465,733, which also represents a 70% jump from the $274,758 Bingo.com took in during the third quarter last year. The company also declared a profit of $46,965, making this its fifth consecutive profitable quarter, with a significantly increased net figure, versus $1,522 in second quarter profits, and $40,415 in 2004 third quarter profits.

In a shrewd cost-cutting move, Bingo.com was able to lower its third quarter operating expenses by 10%, compared to last quarter, by decreasing legal overhead through a strategic merger with its British West Indies subsidiary.

The company's advertising revenue was down 35% from the previous quarter. This decline was predicted, however, based on a calculated “limited advertising” move the company made. The move was designed to increase users' cash game play through their own portal, rather than have the site's web traffic be dispersed to other online bingo sites to play.

With over 1.2 million registers users, Bingo.com certainly has a substantial player pool from which to increase its revenues through bingo, video poker, slots, and other gaming offerings.