Partygaming acquiring Cashcade
July 20, 2009, 9:36 am (8 years ago)
For some weeks now there has been rumors going around on who is going to obtain the UK online gambling group Cashcade. It might be Party Gaming, 888.com or some other key group with the financial influence to close an agreement.
According to the UK newspaper The Times, Internet gambling group Party Gaming has settled the contract with a GBP 100 million price tag.
888.com was thought to the leader aiming to obtain Cashcade, which holds the major Foxy Bingo and Getminted websites. Apparently, it is a rational arrangement, as Cashcade is almost certainly the biggest licensee on 888’s Globalcom bingo platform.
However, last week CEO Gigi Levy announced that his company had the finance and had considered a contract, but the price was not favorable. Concerns over a rival purchasing the group are improved by the fact that Cashcade’s agreement with Globalcom still has 2 years to be effective.