CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!

Gaming News

 

Bingo! North America's Billion-Dollar Pastime is on a Winning Streak

29 March 2000

MINNEAPOLIS, Minnesota, March 29 (Press Release) - The following was issued today by BK Entertainment, Inc.: Bingo has come a long way from the church basement to become one of North America's fastest growing gaming industries. Last year, the bingo industry generated more than $8 billion in gross spending in North America alone.

BK Entertainment, one of the world's largest manufacturers and suppliers of bingo and bingo-related products, fueled the growth of the industry in 1975 when it introduced newsprint bingo cards to the market. Newsprint cards and ink daubers meant faster games, higher player spend, bigger prize pools, higher revenues and a more competitive industry.

Today, BK Entertainment produces more than 44 billion paper bingo cards and pull-tabs each year and is one of the world's largest consumers of newsprint. Now, technology is changing the game again, making it faster-paced and enhancing enjoyment and profit along the way.

"Bingo is not only a pastime enjoyed by millions, but also a growing, profitable business," says Joe Valandra, Chairman and CEO of BK Entertainment, Inc. "We pride ourselves on our ability to create new opportunities for our organization and the industry. As we strive to find new ways to integrate technology into the game, BK Entertainment is also addressing the rapidly expanding global demand for bingo, while ensuring that we have the partnerships in place to deliver our products and services to a growing number of customers."

BK Entertainment is leading the way with a sound business strategy that combines technological innovation, productive and profitable business partnerships and strategic global expansion. BK Entertainment's approach to introducing new technology into the bingo industry involves combining their expertise in traditional bingo products and services with an integrated approach to bingo hall operations.

This approach is evident in the company's newest product, e-BOS(SM), which offers bingo hall managers a complete line of products and services that work cohesively, efficiently and profitably under one management system. In fact, Power Player handset by Power Bingo King, their electronic bingo handset, is the most widely played in North America, with more than 50,000 units currently in use.

Part of BK Entertainment's expansion strategy includes the company's newly-created corporate division, Bingo Systems(SM), which is dedicated to the global distribution of leading bingo products and services in countries where representation either does not exist or is inadequate.

BK Entertainment recently made two key acquisitions under Bingo Systems(SM): Southern Bingo Supplies, a Florida based distributor of bingo products and services and Bingo Vezina, a Quebec based distributor or bingo products. Additional initiatives designed to help BK Entertainment realize its goal of global expansion, is the launch of Bingo World Ltd. in Johannesburg, South Africa, in partnership with Kramer Group and BK Systems of Manila in partnership with Guevent Industrial Development Corporation, Paul Asuncion and Cynthia Picaco.

Bingo World Ltd. is dedicated to the distribution of bingo products and management of bingo hall licenses throughout the African continent, while BK Systems of Manila is dedicated to the distribution of Bingo King and other BK Entertainment-manufactured bingo products throughou tthe Philippines. These partnerships combine the company's goal of global expansion with each market's growing need for an inexpensive form of entertainment.

"We have a vision of global expansion for the bingo industry and it is our goal to continue to lead the industry in this exciting area of growth," says Valandra. "The formation of Bingo Systems and our recent acquisitions of Southern Bingo and Bingo Vezina mark the beginning of an aggressive journey that will lead us towards further international commerce and recognition."

BK Entertainment, Inc. is headquartered in Minneapolis, Minnesota. The company manufactures approximately 44 billion bingo cards and pull-tabs per year with worldwide distribution in 27 countries around the globe.

BK Entertainment employs more than 2,700 individuals in the USA, Canada and Mexico in the manufacturing and sales of bingo paper, electronics, pull-tabsand ink. For more information about BK Entertainment products and services, call 1-800-243-1421

< Gaming News