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Wednesday, January 20, 2021

Bingo Nation Inc (OTCMKTS:BLTO) Shares On a Slippery Slope

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Bingo Nation Inc (OTCMKTS:BLTO) has made recent changes in management and recently announced the resignation of Robert Coleridge from the Board and executive offices of President and Chief Executive Officer for personal reasons. Mr. Coleridge’s resignation will take effect upon the final approval date of the Company’s forthcoming March 31, 2017 year end financial statements. Further, the Board has appointed David Matheson as the Company’s next President and Chief Executive Officer effective today.

David Matheson commented: “We thank Robert for his assistance in agreeing to provide continuity in the Company’s yearend financial and reporting duties. We also respect his decision to step down from the Board and our executive in putting the best interests of the Company ahead of those of himself.”

Bingo Nation Inc (OTCMKTS:BLTO) specializes in tribal gaming, freemium marketing, lottery and interactive technology-based products focused on building memorable brand experiences and more attainable jackpots with better entertainment value. Our portfolio includes innovative proxy-player tribal gaming management, interactive advertising, and game sales via self-serve kiosks, smart phones, and tracking via secure cloud-based customer accounting systems.

Recently appointed to the Board, David Matheson commented: “Pricing and rollout availability are both still to be determined, but we’d expect the company to target those best connected and qualified to serve participating tribal gaming operators in each marketplace.  We believe in strong partnerships to assist us to achieve national expansion of our business.  Industry skeptics may challenge our ability to get all tribal gaming operators to work together. The industry is no doubt fierce in terms of competition between neighboring gaming operations. It demands a lot of investment, but return on investment is driving proven economic development in Indian Country.  Our objective with Bingo Nation is to work together with all participating tribes to continue to capitalize on growth of the Indian gaming industry. With the right strategic partners on board, and by working together, we believe in Bingo Nation’s potential to be an overnight sensation creating new history in tribal gaming. A single twig breaks, but the bundle of twigs is strong.”

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Earlier the company talked about the progress made in its web based mobile application with the recent  beta release of its smartphone service for iOS devices. A registered player will be able to download an icon to their iOS device which links to a cloud-based service for tracking their lottery tickets and provides notification of credits to a winning player’s account. Furthermore, it directs players to the nearest local participating tribal gaming operation and showcases information about the amenities and gaming experiences available at the casino. Once the player is physically located on Indian lands, they can also use the service to purchase game tickets. However, registered players must still use one of the on-site kiosks on Indian lands to deposit funds or withdraw prize winnings.

Director David Matheson commented: “Our leading core technology was originally designed for our registered players to manage their accounts using self-serve kiosks located on Indian Lands. Extending those features to a smart phone service and including directions to the nearest participating gaming facility provides another level of convenience to our customers. In my opinion, this is first of its kind technology for the Indian gaming and lottery industry.”  

BLTO Shares have been in a huge uptrend in recent weeks so it is best to proceed with caution as investors get footing and share prices settle in from volatility. Markets move in trends and then shift direction quickly in smaller stocks, and these shares moved from $1.15 to more than $2.00 on good size volume which has driven shares higher. These changes in company management often take time to take effect, but Bingo Nation Inc. (OTCMKTS:BLTO) has a hot start so far in 2017. For continuing coverage on shares of $BLTO stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!


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