ANGUILLA, BRITISH WEST INDIES -- (Marketwired) -- 08/12/15 -- Shoal Games Ltd. (TSX VENTURE: SGW)(OTCQB: SGLDF) (www.shoalgames.com) announced today that its innovative free-to-play social bingo game, Trophy Bingo (www.trophybingo.com), is available worldwide on Android tablets and phones. The Company expects the Apple iOS release of Trophy Bingo to follow within the current month. The unique construction of Trophy Bingo creates an entirely new bingo game experience that appeals to players seeking a game that's fun, easy-to-learn, and packed with new puzzle challenges.
Free-to-play social bingo games are grouped within the social casino segment of mobile games and are one of the highest monetizing segments of all social games. According to Eilers Research, the social casino segment alone is expected to generate revenues of 3.5 billion USD in 2015, up from 2.0 billion USD in 2013, or 38% growth. Eilers Research notes that mobile products now account for 61% of all social casino revenue. Despite this impressive growth, Eilers Research believes that social casino on mobile remains underpenetrated as it accounts for less than 10% of total mobile game revenues versus approx. 45% of Facebook game revenues. Trophy Bingo aims to join the highly successful social bingo games Bingo Blitz (acquired by Caesars Interactive) and Bingo Bash (acquired by the Game Show Network) in the Top 100 Grossing chart on Android, a level at which companies can make in excess of $1,000,000 in revenue per day.
"The social casino segment continues to grow rapidly and Trophy Bingo's launch is perfectly timed," commented Jason Williams, Shoal Games CEO. "Trophy Bingo is a prime example of the type of game players are demanding. We've stuck to the traditions of bingo, but added layers of fun that will keep our players coming back every day for more. Trophy Bingo brings an entirely new format and gaming experience to the social bingo segment and our test performance metrics indicate that we may have a hit game which will provide significant value to the Company in the coming years," continued Williams.
Trophy Bingo, three years in development, is a puppy-themed social bingo adventure where players must win their way through increasingly difficult levels of bingo challenges. The game includes many innovations for social bingo, including new power plays, a map progression system, unique game types, card blockers, bonus bingo rounds, and a bingo combination system. Trophy Bingo is free to download and supports in-app purchases and incentivized video advertising as revenue generators. The marketing team will aim to make Trophy Bingo a new entrant into the Top Grossing charts. Shoal Games has sufficient cash to devote the necessary resources to continue to develop, market, and support Trophy Bingo and future products for some time.
About Shoal Games Ltd. (formerly Bingo.com, Ltd.)
Shoal Games Ltd. (TSX VENTURE: SGW)(OTCQB: SGLDF) (www.shoalgames.com) is the parent company of the group of companies, which owns Trophy Bingo, an innovative, non-gambling social bingo game. Trophy Bingo is a puppy themed bingo adventure where players must win their way through 120 levels of bingo challenges. The game is free to download and supports in-app purchases and incentivized advertising for players who find themselves in need of extra bingos or want to engage with the premium power plays contained in the game. Shoal Games Ltd. trades on the TSX Venture exchange in Canada and the OTCQB venture marketplace for companies that are current in their reporting with the U.S. regulator. Investors can find real time quotes and market information for the Company at http://web.tmxmoney.com/quote.php?qm_symbol=SGW and www.otcmarkets.com/stock/SGLDF/quote.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission. Specifically, readers should read the Company's Annual Report on Form 10-K, filed with the SEC on March 26, 2015, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, and the TSX Venture Exchange Listing Application for Common Shares filed on June 29, 2015 on SEDAR, for a more thorough discussion of the Company's financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Shoal Games Ltd.
Contacts:
Shoal Games Ltd.
Henry Bromley
CFO
(888) 374-2163
ir@shoalgames.com
www.shoalgames.com
