PartyGaming obtaining Cashcade
July 21, 2009, 9:43 am (8 years ago)
It was reported earlier that 888.com would not buy. Now, apparently, the online gambling operator PartyGaming has decided to make close the deal.
Cashcade is the mother company of foxy and get wealthy; PartyGaming who has been in the activities with other attainments in latest months has allegedly paid out Ј100million in the takeover. It seems that they made a down payment of Ј75million with the other Ј25million conditional on a performance review throughout the next 2 years.
The attainment is going to ease the problem Independent News and Media publishers who are allegedly in debt and has about 20 percent of Cashcade as it stands.
Other shares were generally owned by its employees and the managers of the company. Cashcade shareholders last year earned Ј12million on profits of Ј45million.