Online bingo operator Bingo.com has been reported losses for the last five years. While the site is showing a 69 percent decline in revenue for 2010, amounting to $1.81 million it expects to be in profit by the end of 2011.

The company showed revenues of $5.82 million in 2009 and has suggested that the last quarter of 2010 pulled in just $110,884. While this was up by 14% from the previous quarter, Bingo.com was noted to be in a 93% decline compared to the previous years’ revenue.

Bingo.com’s CEO Tarrnie Williams stated that Bingo.com faced a tough time last year. He noted that the bingo site had joined the UniBet Partner Programme and had completely restructured its business strategies and resources. He is confident that the firm’s revenues will improve in the near future because of these strategies.

He added that in the final quarter of the fiscal year 2010, Bingo.com had invested in a new marketing campaign, which had been launched in selected markets in the first quarter of this year. He suggests that revenues will be up as a result of the marketing campaigns.

Bingo.com has reported a loss of $878,972 for 2010, This is its fifth successive annual deficit. In 2009 it reported a $1.18 million loss.