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23 July 2009
Bingo News: The bidding war for Cashcade is over
Gigi Levy the CE from 888 holdings recently stated that the company will not be purchasing online bingo operator Cashcade. Although 888 had the funds to purchase the operator they felt the price they were asking for the company was too high. The other bidder PartyGaming looks certain to purchase the operator now in the next few days in a deal that is said to be worth £100 million.
Cashcade run many bingo sites on the Globalcom software network (owned by 888) including Foxy Bingo, Cheeky Bingo, Think Bingo and the recently launched sites Little Big Bingo and Graces Bingo. This has caused speculation that it may have an adverse effect on 888's Globalcom network as most of the liquidity is provided by Cashcade.