According to the Telegraph, on of the UK’s leading online bingo networks is the target of some pretty hefty competition to buy it. Cashcade, the people behind top flight bingo site such as Foxy Bingo and Cheeky Bingo are currently being vigorously pursued by a number of gaming companies. As well as its own network, Cashcade also owns the smaller network of Think Bingo network and parent company Herotech Ltd. All in all it’s not a bad little bundle should it be sold and will be a great example of the consolidation of the market that was mentioned at the last couple of Online Bingo Summits.
A couple of companies are in the running to buy Cashcade, PartyGaming for one and 888 for two, the later being the forerunner for the sale according to the Telegraph’s piece. Those who’ve been following the online bingo market will know that 888 bought the Globalcom bingo network back in 2007, so they’re no stranger to buying into online bingo. In fact Cashcade are already their main money spinner as they licence 888/Globalcom’s bingo software to power their sites. It sounds like there’s a lot of speculation about the purchase with no comment available from any of the parties involved. With Cashcade’s sale price estimated at between £70millon and £100million, it’s a massive purchase for whoever gets it.
Given Cashcade’s excellence in the field of online bingo, I would hope that the buyer will learn from their purchase’s skill in providing a winning bingo experience. It’s fair to say that both 888 and PartyGaming don’t get bingo in the way Cashcade do, and it would be a shame to see them try to implement their own bingo ethos on Cashcade rather than learning from Cashcade to see how to improve their own bingo offering. Early days yet, but I’ll be following this one with interest.