UK Bingo Operator Cashcade For Sale
Cashcade is without a doubt one of the biggest online bingo operators in the UK. It owns some of the most popular online bingo sites around, such as Foxy Bingo, Think Bingo, Little Big Bingo and Cheeky Bingo among others. It also owns and operates the popular casino site Get Minted.
With nearly 1 million registered users around the UK (80% of who are women) Cashcade has managed to set itself up as the second largest bingo brand in all of the land, just behind Gala Bingo.
The announcement that Cashcde is up for sale will undoubtedly raise much interest in the gaming industry. Whoever bids for this company will surely be on to winner as Cashcade’s figures have been on the increase year after year. To be precise, Cashcade has reported a 91% rise in profits, with revenues totalling a whopping £33.7 million. They have already announced pre-tax profits of £10.9 million so far...impressive!
It’s not a surprise that online bingo is generating such huge profit margins with so many people turning from poker and casino to bingo thanks to the entertainment value and cash to be won. Its popularity has made online bingo one of the fastest growing form of online gaming to date and accounts for 20% of the world gaming market. Therefore, it is no wonder Cashcade’s sale has produced so much interest in the gaming industry.
Party Gaming appears to be leading the chase for Cashcade. If it acquires this attractive new prospect it will undoubtedly threaten Gala Bingo’s top spot. Party Gaming will be in a privileged position to cross advertise its already huge poker and casino empire through the newly acquired online bingo sites. Not only that but it will leave 888.com at a commercial disadvantage as it is Cashcade’s sole supplier of gaming software. For this reason 888 Holdings have reacted quickly to put a bid in for Cashcade. Unfortunately, it appears too little too late and it seems Party Gaming will proclaim itself victorious on this occasion.
Watch this space and let Bingo Power tell you the news as they break.
