In an unfortunate turn of events, the bingo brand Bingo Godz has been sold. The popular bingo provider has been sold by its owners Gaming Realms after a short stint of ownership to the European Domain Management company.
What Is Going On?
According to Gaming Realms, the sale came around after Bingo Godz had generated losses for the company in 2014 and from that loss they decided to sell it on to the EDM (European Domain Management) along with Castle Jackpot.
The EDM already own a large number of big named sites like Crown Bingo, Loopy Bingo and Pink Casino. Having all of these big brands connected to them instantly made this company look like a good investment for Gaming Realms and it let them recoup some of their losses.
The sale has come as a shock to many as the site seemed to be doing quite well for itself and the original purchase of the brand cost Gaming Realms £500,000 and a further £300,000 over the 17 months following that acquisition. Castle Jackpot also set them back £200,000 when they initially bought it and although those figures may not seem like the biggest expenditures, they contributed to a huge loss.
Both of these brands were the centre of a loss of £2.1 million from a total of £3.1million that was lost by Gaming Realms back on the 30th of September in 2014.
But, it’s not all bad news as Gaming Realms are said to be investing the money from the sale into a mobile slot site. The money will be spent on their flagship casino brand, Spin Genie, and it’s hoped that this casino will be a better source of income that Bingo Godz ever was.
Why Have They Possibly Lost Money?
Although we will never know the real reason behind why this online bingo site lost so much money, we can make a few hypothetical guesses.
For example, a lot of the games on the site are quite dated and with new slot games being churned out regularly by other sites you can see why other players might flock to other brands.
The promotions on Bingo Godz also are probably another reason why they didn’t perform particularly well. Although they have quite a rewarding welcome package that will nab you £10 for registering an account and a 100% bonus for making a first deposit, they don’t really update them that regularly.
So whenever you go onto the site you will still see the same sort of competitions and events running, which can become quite stale and uninteresting. A site becoming repetitive like that can be quite damaging, there are countless other bingo sites out there that regularly swap in other competitions and promotions for their players to try out to keep things interesting.
Also, even though they have a mobile app that will let you get your fix of their games whenever and wherever you like, they don’t have the biggest social media interaction.
Regularly running competitions and events with players through social media is what can make a break a website. An active social media page makes the site look like it’s still running whilst an inactive page makes players concerned that the website they’re using might have gone offline, which is especially bad if you have money invested in the site.
Of course, these are all just assumptions towards what we think it actually was that could have led to this site losing so much money.