PartyBingo

PartyBingo offers three different bingo variants, a variety of slot and video poker games and, most importantly, a vibrant community of like-minded gamers. With the exception of bingo tournaments, all players place bets against the house, and the outcome is determined by randomly generated results. Recognised as a ‘softer’ form of gaming, bingo is most popular among females with both 90-ball and 75-ball versions of the game available online.  Players buy online tickets that have a fixed number of randomly generated numbers on them.  Numbers are then ‘called’ and the player has to match the called numbers to those on the tickets held.  Prizes are determined by the number of players playing and are awarded to the first players to match a line of numbers on one of their cards with those that have been called.  The operator makes money based on player buy-in minus prize payouts as well as additional revenue from play on side games and slots.  In 2008 PartyBingo generated $4.9m of Continuing revenues (2007: $2.5m) and a loss of $0.7m at the Clean EBITDA level (2007: Clean EBITDA of $0.1m)