RE:news updateTangelo Games Pre-Announces Q4 Revenue and Provides Operational Update TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Tangelo Games Corp. (Tangelo or the Company) (TSX-VENTURE:GEL), a leading developer and operator of social casino games, provides a corporate update. James Lanthier, CEO of Tangelo, commented: Tangelos operating business continues to perform well. In Q4, Tangelos revenue grew by 4.4% to CAD $8.8 M from the immediately prior quarter, outperforming the industry average for the period of 3.1%. The decline from the prior years quarter of 5.6% is, we believe, largely attributable to our lack of new content; we believe that our operational initiatives directly address this. Vicenc Marti, President of Tangelo commented: Our redevelopment program is nearing completion. Our Bingo games have been launched in Unity, and will be rolling out to other countries gradually through 2018. We are pleased with the results to date. Bingo Unity has been launched in Venezuela and will be rolling out to other countries gradually. In the next 2 weeks we expect to release an initial six slot games in Unity. Following a monitoring period we intend to replace our remaining slot games. We believe that our user base is primed for our wider launch of our native mobile app version of Mundijuegos. In fact, we already saw in Q4 2017 Tangelo Spains mobile revenue grew quarter-over-quarter from Q3 2017, which speaks to the organic demand from our Mundijuegos users for a proper mobile product. We have had positive feedback from our beta test version of Mundijuegos, our primary revenue driver at Tangelo Spain, with a selected user group, and anticipate a public release by the end of April. In Q4 2017 we were able to complete our stabilization of Tangelo Israel. Revenue was essentially flat year over year and up quarter-over-quarter. Paying users were up once again quarter-over-quarter. While there remains significant work to do on platform and infrastructure, we are pleased with the progress we have made in reversing historical negative trends at Tangelo Israel. As previously discussed, we anticipate future growth to come from new products. To that end, we expect to release our new English-language mobile app, Best Jackpot, by the end of March 2018.