Cashcade for sale?

We spoke recently about the news that 888 are to buy Foxy and a recent article in The Telegraph again points to the fact that CashCade is for sale. Once again the names 888 and Foxy were banded about in talks about the 20% shares in CashCade that are for sale by the Independent News Media who are trying to raise money in order to pay off debts that stand at a reported 1.3 billion Euros.

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With the news that Cashcade is for sale and talks of 888 to buy Foxy how does this potentially affect online bingo players at the brands owned by Cashcade like Foxy Bingo, Think Bingo, Bingo Scotland, Think Bingo Cosy and GetMinted Bingo? Well the likelihood is that the team who make these online bingo sites so successful will be retained by whoever buys CashCade.

The article in The Telegraph written by Jonathan Sibun also indicates that PartyGaming Plc were another interested party now that CashCade is for sale. However with 888 already providing the online bingo software for the bingo brands under the CashCade hat and having their own presence in the world of online bingo it would be a more interesting sale should they actually buy CashCade.

It is reported that 888 are in “pole position” for the acquisition of CashCade and the figures being banded about are between £70 and £100 million and could see the start of a long awaited consolidation in the online bingo industry. Profits by CashCade were reported to be £10.9 million pre-tax up to December 2008 and an increase in revenue of £33.7 million were the figures shown in documents filed at Companies House.

Now that CashCade is for sale who else is likely to get in the bidding for the company?

26th May 2009